You could own Sony’s New York HQ

13 Jun 2012 by Peter Parrish
You could own Sony’s New York HQ

Financial realities are setting in for , who are reported to be considering buyers or renters for its expensive New York headquarters. The Building (formerly an AT&T building) in Midtown New York is a 37-storey skyscraper, which appears to be more floors than can afford right now. The company has held real-estate talks over whether to sell the building outright and move to a new location, to sell and lease back a portion of the space or to just lease out certain floors to interested parties.

If Sony does end up selling the entire building, it could be worth an estimated $700 million to $1 billion USD. That’d be quite a chunk of money to help offset the company’s record financial losses of $5.7 billion USD from last year.

The building currently houses Sony’s music and movie divisions, though there is also a ‘technology lab’ in the basement and corporate offices on higher floors. It has been owned by Sony since 1992.

New CEO has been looking for ways to ‘restructure’ (translation: ‘save money for’) the company and has already threatened to cut 6% of Sony’s global workforce.

Source: New York Post

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