Zeckendorf in Talks With Japanese: William Zeckendorf...
From Times Staff and Wire Reports
Zeckendorf in Talks With Japanese: William Zeckendorf Jr., whose New York real estate empire has been hurt by declining property values, is in talks with Japanese construction company Tobishima Corp. about a possible joint U.S. real estate venture, the Japanese firm said. The Wall Street Journal reported that Zeckendorf is negotiating to sell a major part of his company to Tobishima in exchange for a cash infusion. The developer’s real estate holdings, including condominiums near Central Park and office buildings in Manhattan, have been squeezed by slumping property values and tighter credit.
