A New York private equity firm closed on its $92 million purchase of The New York Times’ Edison, N.J., plant.

A unit of KTR Capital Partners bought The Times’ assets, which include a 1 million-square-foot printing plant, a 385,000-square-foot warehouse and a 25-acre development site.

“It’s not often that you get the chance to acquire a well-located, high profile property in the heart of one of the best industrial markets in the country,” said John P. DiCola, a partner with the firm.

The Times last year said it would shutter the plant and transfer operations to its College Point, N.Y., facility. In the meantime, the paper will continue to occupy the Edison plant through December 2008 and also agreed to lease the warehouse.

KTR said it would redevelop the printing plant and also develop the vacant acreage, which is zoned for industrial, office, retail and hotel use.