Publishing company Scholastic Corp. has agreed to pay $255 million for its headquarters building at 555 Broadway in the SoHo area of Manhattan, according to a Form 8-K. Scholastic has complete ownership of its headquarters at 555 and 557 Broadway.
The transaction is expected to close prior to the end of its current fiscal year.
The seller was food manufacturer ISE America, which purchased the 216,000-square-foot building in 1990. ISE America is the U.S. division of a Japanese egg producer.
