Sony Sells its NY Headquarters for $1.1Billion

By   /   3 years ago


Sony Corporation of America is selling its New York City headquarters for a brisk $1.1 billion. The 37-story Madison Avenue building will sell to The Chetrit Group, a real estate consortium, this March.

After transaction costs and the building debts are sorted, Sony should see only around $770 million of that $1.1 billion. Sony believes $685 million will be recorded as operating income.

After selling, Sony Music Entertainment, Sony/ATV Music Publishing and Sony Pictures Entertainment are allowed to remain in the building for up to three years as promised by leaseback arrangement with the purchaser.

Source: Eurogamer

Join the Conversation

Hot Right Now

For Honor Single Player Gameplay

Could For Honor be the Next Big IP For Ubisoft?

Announced back at E3 2015, For Honor claims to have finally cracked the art of swordfighting in...

by   /   5 days ago
Titanfall 2 Titans Ion Scorch Ronin

Prepare Yourself for Titanfall 2 Titans Ronin, Scorch and Ion; All Det…

We are waiting eagerly to get inside the Titanfall 2 Titans ever since Respawn Entertainment has...

by   /   5 days ago
Video Games Drugs

If Drugs Were Sold Like Video Games, It Would Blow Your Mind

Alright folks we are back with another one of our painfully hilarious takes on the video game...

by   /   6 days ago
GTA 6 wishlist

What We Want in GTA 6: Locations, Vehicles, Side Jobs, Features and St…

We have been reporting on GTA 6 rumors since a while now. For instance, there is one suggesting...

by   /   6 days ago
LawBreakers Overwatch Comparison

How Overwatch is Different from LawBreakers; CliffyB Says His is Far B…

Overwatch and LawBreakers do have a lot in common insofar as features like characters, guns, FPS,...

by   /   6 days ago
Load More