NEWARK, New Jersey — New Jersey's largest newspaper has sold the building it has called home in the state's largest city for nearly 50 years to a New York firm.
The Star-Ledger of Newark is not saying how much Floral Park, New York-based Maddd Equities is paying for the 177,000-square-foot building in Newark.
Publisher Richard Vezza told the newspaper (http://bit.ly/1kZhTaw ) the sale is expected to close in October and Vezza does not know what the real estate investment firm plans to do with the structure.
The newspaper will retain a presence in Newark in a leased office in Gateway Center.
The newspaper's owner, Advance Publications, launched a new media company this year that will provide content and advertising out of offices in Woodbridge.
The newspaper cut a third of its non-unionized employees this year.
Information from: The (Newark, New Jersey) Star-Ledger, http://www.nj.com