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Acquisitions

Silverstein Properties acquires ABC’s UWS headquarters

Silverstein has found its next big project

Former ABC Headquarters on West 66th Street (Credit: Michael Garofalo)

Silverstein Properties has entered into contract to acquire ABC’s Upper West Side headquarters from the Walt Disney Company for more than $1 billion, according to the CO. The massive deal includes 77 West 66th Street (287,822 SF), 47 West 66th Street (347,053 SF), and a few other buildings in Disney’s office portfolio that spans over 1 million SF.

What’s next: Silverstein is looking for acquisition financing to close the deal.

The Backdrop: Historic Hollywood Merger: After Walt Disney acquired most of Rupert Murdoch’s 21st Century Fox back in December, it made sense that real estate assets would be in play.

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