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Sony Sells NYC HQ Building For $1.1 Billion

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Sony going to sell its U.S. headquarters building in New York City for $1.1 billion,as  according to Reuters. The buyer is a consortium led by the Chetrit Group, a real-estate development firm. The sale of Sony’s U.S. headquarters attracted more than 20 bidders including Vornado Realty Trust, Mortimer Zuckerman’s Boston Properties as well as Mitsubishi Trust, Mitsui Fudosan. After repayment of debt, Sony will receive net cash of about $770 million. The company expects to book a gain on the sale of about $685 million. Reuters notes that it previously reported that Sony is seeking a buyer for one of its buildings in Tokyo; price tag is 100 billion yen, or about $1.14 billion.

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