New Jersey's largest newspaper sells headquarters to New York firm


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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

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