Almost a decade after opening on Columbus Circle across from the southwestern edge of New York City’s Central Park, the Time Warner Center is set to be sold by its namesake inhabitant to an investor group that helped construct the 55-story edifice.
Time Warner Inc., the world’s third-largest media conglomerate, announced Thursday that it plans to move its headquarters to a new development on Manhattan’s West Side, and will unload the 1.1 million square feet of space it owns at the landmark office tower to a group led by developer Related Companies and the sovereign wealth funds of Abu Dhabi and Singapore, Abu Dhabi Investment Authority and GIC Pte, according to affiliates publication GlobeSt.
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