The Real Deal Miami

Miami Herald land deal gets extension

December 31, 2008 12:14PM

The McClatchy Company, owner of the Miami Herald, has extended the deadline to sell 10 acres of parking lots around the newspaper’s bayfront headquarters as the credit crunch imperils the $190 million deal. Developer Mark Siffin received the extension Tuesday night, on the eve of a previously announced deadline for the deal. In exchange for more time to arrange financing, Siffin will give up his right of first refusal on the Herald building and its underlying waterfront land, should McClatchy choose to sell the Herald’s bayfront offices.