Yahoo Inc. will lease four floors in the old New York Times building near Times Square as part of an expansion in the city that includes Monday's agreement to purchase Tumblr Inc.

"We are outfitting this breathtaking new space with growth in mind: Over the coming months and years, we want to grow our Yahoo NYC family by up to 60 percent, with a special focus on expanding our engineering team," Yahoo Chief Development Officer Jackie Reses said in a blog post.

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Blackstone Group LP, which bought the top 12 floors of the building at 229 W. 43rd St. in 2011, has been seeking to attract Internet and communications firms to the former home of the New York Times, which has relocated to a nearby skyscraper.

Yahoo, based in Sunnyvale, Calif., plans to move its New York workers into the new space by December. Its Big Apple employees currently work in three different locations around the city.