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Multi-million dollar buyouts in NY getting common

In lucrative real estate market, if tenants pocket millions to move out, developers stand to make much more
Monday, December 28, 2015 - 05:50
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The building at the corner of 10th Avenue and 35th Street where three tenants received a total of US$25 million this year in a buyout to clear the way for a 2.8 million-square-foot office tower planned for Hudson Yards.

New York

TISHMAN Speyer Properties, one of New York City's most active real estate developers, had bought two parcels of land on the Far West Side of Manhattan to clear the way for a 2.8 million-square-foot office tower planned for Hudson Yards.

Standing in the way, though, were