Published On: Sun, Apr 8th, 2018

Silverstein to Buy ABC News’ Upper West Side complex for over $1 Billion, Sources

77 W 66th St

 

Silverstein Properties has struck a deal with Walt Disney Company, ABC’s parent company, to acquire more than 1-million-square-foot, the New York City headquarters, estimated at over $1 billion, sources told Commercial Observer.

Silverstein is now looking for financing for the transaction, according to the CO.

Finalist Silverstein has been awarded the winning bid, in the running for the ABC complex, with a bid by Related Companies, according to sources.

The complex consists of several buildings along West 66th Street between Central Park West and Columbus Avenue. The Upper West Side office portfolio includes a 22-story, 420,000 SF 77 West 66th Street, and probably add to it the three-building, 316,000 SF at 47 West 66th Street, as well as other buildings in Disney’s.

Last December the California based entertainment conglomerate announced that it would acquire 21st Century Fox and its assets from Rupert Murdoch in a $52.4 billion, all-stock deal.

Disney approached a handful of New York City developers about purchasing ABC’s properties, including the Durst Organization, sources told CO.

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