Most big media companies based in New York are, in one way or another, also investors in real estate – the Hearst Tower, New York Times Building, the Time Warner Center, and Condé Nast’s digs at 4 Times Square to name a few.
But most don’t flex their real estate muscle outside the city limits – and those that do almost certainly don’t invest in residential Detroit.
According to the Detroit Free Press, however, Time Inc. is doing just that. The publishing arm of Time Warner bought a 95-year-old house in Detroit’s West Village neighborhood. The gray, three-story stucco home “will serve as a base of operations for months — and perhaps a couple of years — as [Time Inc.’s]