Local union revives bid to sell Times Square headquarters

1199 SEIU first announced plans to sell the site in 2006

TRD New York /
Dec.December 02, 2015 12:05 PM

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 


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)

Extell lands $690M refinancing package for One Manhattan Square

Extell lands $690M refinancing package for One Manhattan Square
Tel Aviv Stock Exchange bull (Wikimedia Commons)

NYC developers face downgrades on Israeli bond market

NYC developers face downgrades on Israeli bond market
Claude Wasserstein and 995 Fifth Avenue (Getty, Google Maps, Sotheby's)

Claude Wasserstein relists UES penthouse for $55M

Claude Wasserstein relists UES penthouse for $55M
Gary Barnett and Sush Torgalkar with 225 West 57th Street, 225 West 86th Street, and 169 Columbia Heights in Brooklyn (Credit: Getty Images, iStock, and CityRealty)

Torgalkar out as CEO of Extell: sources

Torgalkar out as CEO of Extell: sources
Hilton CEO Christopher Nassetta and the hotel at 234 West 42nd Street (Google Maps; Getty; Hotel Planner)

Hilton Times Square to close permanently

Hilton Times Square to close permanently
Extell Development president Gary Barnett and Kushner Companies founder Charles Kushner with a rendering The Lofts at Pier Village in New Jersey (Rendering via Extell Development)

Kushner Cos. buys Gary Barnett out of development on NJ waterfront

Kushner Cos. buys Gary Barnett out of development on NJ waterfront
HNA Group’s Guoqing Chen, One57 and  and Gary Barnett (Godsfriendchuck via Wikipedia)

HNA’s fire sale continues with One57 deal

HNA’s fire sale continues with One57 deal
Gary Barnett, Lars Windhorst and 50 West 66th Street (Getty, Extell)

Extell pushes forward plans for UWS condo with new partner

Extell pushes forward plans for UWS condo with new partner
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...