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.
- 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.