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Transactions - FEBRUARY 26, 2020

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ViacomCBS Inc. to sell former Manhattan HQ for $1b

by Andrea Zander

ViacomCBS Inc. has plans to sell the 870,000-square-foot office building at 51 West 52nd St. in Manhattan, known as Black Rock, for more than $1 billion, reported media outlets.

The black granite skyscraper has served as CBS’ headquarters since it was completed in 1964.

At the end of 2019, CBS and Viacom merged, creating ViacomCBS. The firm owns Showtime, Nickelodeon, MTV and Paramount Studios.

ViacomCBS CEO Bob Bakish made an announcement about the property in December at the UBS Global TMT Summit in New York. “Black Rock is not an asset we need to own, and we believe that money would be put to better use elsewhere,” he said.

 

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