The Real Deal New York

Local union revives bid to sell Times Square headquarters

1199 SEIU first announced plans to sell the site in 2006

December 02, 2015 12:05PM


310 West 43rd Street in Times Square

A local union is again in talks to sell its Times Square headquarters.

The 1199 Service Employees International Union has revived its efforts to sell its headquarters at 310 West 43rd Street, the New York Post reported.

Those eyeing the site reportedly include Mitsui Fudosan America, Gary Barnett of Extell Development and Michael Fascitelli, head of Imperial Companies and former Vornado Realty Trust CEO.

The sale of the site has been nearly 10 years in the making. The union announced in 2006 that it wanted to sell the headquarters to a buyer who would develop a 300,000-square-foot tower and who would agree to give the union 100,000 square feet at the building’s base.

Though the offer drew serious interest by 2009, promising negotiations dissipated along with available financing in the wake of the housing crisis.

Now, buoyed by a healthier economy, suitors are once again lining up for the site and being sorted by former Cushman & Wakefield brokers, according to the newspaper. [NYP] — Kathryn Brenzel