GM Sells N.Y. Skyscraper: General Motors, experiencing...
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From Times Staff and Wire Reports
GM Sells N.Y. Skyscraper: General Motors, experiencing its worst sales slump in a decade, has sold its Manhattan skyscraper to a private real estate group. The announcement came the day after GM, the world’s largest auto maker, reported a record $1.62-billion fourth-quarter loss. Located on New York’s fashionable Fifth Avenue, the 50-story tower was sold to New York-based Corporate Property Investors last month. GM did not disclose the price.
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