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

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

Extell lands $690M refinancing package for One Manhattan Square

Brooklyn Point at 138 Willoughby Street and Extell Development’s Gary Barnett (Credit: Alistair Gardiner for The Real Deal)

And you get an incentive! Extell offers to pay carrying costs at Brooklyn’s tallest tower

The M&M’s store at 1600 Broadway (Credit: Google Maps)

Home of M&M’s Times Square store for sale, asking $200M

Raizy Haas and Gary Barnett (Credit: Getty Images, iStock)

One of Gary Barnett’s longtime deputies is leaving Extell

Gary Barnett and 1855 Broadway (Credit: Google Maps)

Gary Barnett assembling Columbus Circle development site

Extell Development chairman Gary Barnett and One Manhattan Square (Credit: Anuja Shakya, StreetEasy)

Rent now, buy later at Extell’s One Manhattan Square

José Cuervo owner Juan Beckmann Vidal and 1010 Park Avenue (Credit: Getty Images, StreetEasy)

Mexican billionaire buys Park Ave pad for $25M amid shopping spree

From left: 241 East 73rd Street, 1514-1528 First Avenue, and Extell Development's Gary Barnett (Credit: Google Maps)

Here’s what the $10M–$20M NYC investment sales market looked like last week