Zuckerman to Write $700M Rent Check to Realty Rival

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?

  • Giant News Cave Bought By Broadway for $700 Million [NYO]