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The state Metropolitan Transportation Authority is close to signing a deal to lease at least 600,000 square feet of space at 2 Broadway.
That vacant downtown building, once an albatross in the portfolio of Olympia & York, has been owned by Zar Realty Management Corp. for the past two years. While the real estate industry chuckled when Zar shelled out $20.5 million for the 1.4 million-square-foot building in October 1995, it has since become a prime commodity as deal-seeking tenants outnumber available space.
But none of the big tenants now circling the market for space would fit into 2 Broadway as well as the MTA. Sources close to the transaction say negotiations...