ViacomCBS Sells Manhattan Office Skyscraper in $760 Million Deal
ViacomCBS Sells Manhattan Office Skyscraper in $760 Million Deal
(Bloomberg) -- ViacomCBS Inc. has reached a deal to sell the Manhattan skyscraper that houses CBS for $760 million, one of the biggest New York office sales since the Covid-19 pandemic started.
The granite tower, known as Black Rock, was purchased by Harbor Group International, a commercial real estate firm based in Norfolk, Virginia, according to a statement Monday.
The building, at 51 W. 52nd St., was the headquarters for CBS, which merged with Viacom in 2019. It was designed by architect Eero Saarinen. The deal includes an agreement for CBS to lease back the space on a short-term basis.
Manhattan’s office market has been hit hard by the pandemic, with vacancies rising as companies embrace remote work. Transactions have also slowed as investors ponder the rise of hybrid schedules.
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