Sony to sell its US headquarters building


Sony is going to be selling its US headquarters building,  the Sony Tower in New York City, as part of “a range of initiatives to strengthen its financial foundation and business competitiveness and for future growth.” Sony has occupied the building for 20 years but has said that they will be moving out of Sony Tower within the next three years.

Sony is reportedly hoping to raise $685 million on the sale price of $1.1 billion, with the profits from the deal going towards the company’s earnings for the fiscal year.

A group of buyers, headed by property management company The Chetrit Group, are going to be taking over ownership of Sony’s soon-to-be-former HQ and the deal for the property is expected to close on 15 March this year, just before the end of Sony’s fiscal year.

Source: PC World


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