July 11, 2018
The Mouse is on the move. The Walt Disney Company has sold its Upper West Side campus, the longtime home of the American Broadcasting Company, to Silverstein Properties for approximately $1.2 billion, and simultaneously acquired the rights to develop Trinity Church Wall Street’s 4 Hudson Square for $650 million.
“This move represents an historic step forward toward our long-term vision for our New York operations,” said Disney CEO Robert Iger. “The Hudson Square district is rapidly becoming a dynamic, innovative hub for media, technology and other creative businesses.”
Disney is expected to lease back the ABC campus, including 77 W. 66th St. (pictured), for up to five years while 4 Hudson Square is under development. It will include offices and production facilities for local affiliate WABC-TV, ABC News and Disney Streaming Services, among other operations.
For both transactions, Disney was advised by Eastdil Secured. Trinity was advised by CBRE.
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