Silverstein to Buy ABC Buildings for More Than $1B
The Upper West Side properties include 77 W. 66th St. and 47 W. 66th St.
NEW YORK CITY—Silverstein Properties is acquiring the American Broadcasting Company’s New York City headquarters, located on the Upper West Side of Manhattan for more than $1 billion, as reported by the Commercial Observer.
Real Capital Analytics recorded the transaction as a pending sale dated April 2018, with Silverstein as the buyer, and The Walt Disney Company, the parent company of ABC, as the owner. The database recorded the pending sale included 77 W. 66th St., a 22-story, 420,000 square foot office property, built in 1988 and renovated in 2005, 100% occupied by ABC. Real Capital Analytics also recorded 47 W. 66th St., comprising three buildings, with 14 floors, totaling 316,000 square feet, built in 1985. Eastdil Secured was listed as the broker for all of the properties.
In December 2017, it was widely reported in the news that Disney was acquiring a substantial portion of 21st Century Fox for $52.4 billion in stock. A spin-off company of 21st Century Fox would retain Fox Broadcasting network and stations, Fox News, Fox Business, FS1, FS2 and Big Ten Network.
In a press release issued at the time of the acquisition, Disney stated it was acquiring 21st Century Fox’s film and television studios, cable entertainment networks and international TV businesses; entertainment properties including X-Men, Avatar, The Simpsons, FX Networks and National Geographic; 21st Century Fox’s entertainment content, capabilities in the Americas, Europe and Asia; a controlling interest in Hulu and international properties. Robert A. Iger would remain chairman and CEO of The Walt Disney Company through 2021.
A spokesperson for Silverstein told Globest.com that the company declined to comment on the deal, and the Walt Disney Company did not respond to an inquiry at the filing of this article.