The Real Deal New York

Eastdil to market Sony’s Madison Ave. tower

October 01, 2012 01:00PM

Eastdil’s Doug Harmon and 550 Madison Avenue

Eastdil Secured beat CBRE, Cushman & Wakefield, Jones Lang LaSalle and Newmark Grubb Knight Frank to market Sony’s 36-story building at 550 Madison Avenue, the New York Post reported. Sony had considered selling the 800,000-square-foot property since the beginning of the summer, after the company posted a nearly $6 billion loss during the last fiscal year.

As previously reported, the Sony U.S. headquarters could be worth between $700 million and $1 billion. Eastdil is also currently behind the marketing of Worldwide Plaza, which the Post said could fetch over $1 billion. In addition, Eastdil marketed 111 Eighth Avenue in Chelsea, when it was sold to Google for $1.8 billion back in 2010.

So what’s in store for Sony? The building now houses the company’s music and movies divisions, as well as its corporate offices. Possibilities include a move west to Hudson Yards, downtown to the World Trade Center or the Time Warner Center at Columbus Circle. [Post]

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