A new category of antique furniture is a $25 million investment from the world’s most famous furniture maker.
The New York-based company has bought up properties in New York and Brooklyn for $250 million.
The company said it will be investing more in the area of New York City in the next two years.
The company has a collection of furniture that includes pieces of the world famous New York Times building and the Grand Hyatt Hotel in Manhattan.
The original design of the building was inspired by the French Quarter of Paris and was meant to be “a place where the city lived and breathed,” said New York Attorney General Eric Schneiderman.
The new acquisition by New York’s oldest and largest furniture maker means New Yorkers will have a better chance to enjoy the history of the buildings.
The $25-million investment was announced Monday by the company’s CEO Michael Boggs.
Boggs said the purchase will allow the company to expand its manufacturing capacity and build a better quality product.
It will also help the company continue to be able to meet the demands of the evolving industry, he said.
Schneiderman said that in the past 10 years, the number of apartments in New Jersey has tripled while the number in New Yorkers has shrunk.
The number of rentals in New Brunswick has nearly tripled.
The Times building, built in 1905, has long been a tourist destination for New Yorkers, but it has struggled financially in recent years due to its proximity to the city.