Zuckerman to Write $700M Rent Check to Realty Rival

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By Noah Davis Comment

MortZuckerman.jpgMort Zuckerman will have to learn to get along with his rivals in realty, since they’re the ones to whom he’s about to start paying rent.

For $700 million, Broadway Partners has agreed to purchase a 1.7 million square-foot behemoth: the 14-story building at 450 West 33rd that’s home to Zuckerman’s Daily News, as well as the Associated Press, Channel 13, and U.S. News & World Report, according to the Observer.

This isn’t the first time Zucks and Broadway Partners have butted heads. Last year, BP purchased part of Beacon Capital Partners, making itself a direct competitor of the real estate mogul’s Boston Properties.

Will the News have to raise prices to combat the increase in rent?

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