Former ABC Headquarters on West 66th Street (Credit: Michael Garofalo)
Taconic Investment Partners has acquired 125 West Side Avenue, 320 West 66th Street, and Lot 61 from Silverstein Properties for around $220 million, according to CO. The assets are part of the former Walt Disney Company-owned ABC campus and span 513,437 rentable SF.
Breakdown:
125 West End Avenue is an office building that spans 395,283 SF.
320 West 66th Street is an office and television studio production facility that spans 118,154 SF.
Lot 61 sits adjacent to the properties and allows for an additional 105,575 SF of development rights.
Flashback: Silverstein paid $1.2 billion for the portfolio last year, which was financed with a $900 million loan from Deutsche Bank. It also included 147 and 149 Columbus Avenue, 77 West 66th Street, 47 West 66th Street, 7 West 66th Street, and 30 West 67th Street. The collection of TV studios and office buildings comprised 1.7 million SF of rentable commercial space.
What comes next: Silverstein plans to redevelop the remainder of the campus, and is leasing the buildings back to Disney and ABC for up to five years while it builds a new headquarters in New York City at 4 Hudson Square.