Surprised Silverstein won’t be redeveloping, sounds like they’re making a loss here. But now it’s in the hands of the G-Man
Barnett put a $50 million deposit down on the office assets — which sit on Columbus Avenue between West 66th and West 67th streets and is occupied by Disney’s as well as ABC’s studios — and the deal is expected to close in March, according to sources. The sale, combined with an earlier transaction for part of the campus, means Silverstein would roughly break even on its $1.2 billion purchase of the properties in 2018.
Nearly a year after purchasing the campus, Silverstein sold a part of it — three buildings totalling more than 500,000 square feet at 125 West Side Avenue, 320 West 66th Street and Lot 61 — to Taconic for approximately $220 million in 2019, CO.