Silverstein has found its next big project
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.