Posted on June 13, 2012 AT 11:35am
Budget cuts and company sales continue to be the gaming industry’s theme for the Big 3 console giants, as Sony is reportedly putting their New York headquarters up for the sale. Formerly owned by AT&T, Sony bought the 37-floor skyscraper at 550 Madison Ave for $236 million in 2002.
This isn’t the first popular landmark location that’s been dropped by Sony, who shut down the PlayStation Store in San Francisco’s once-thriving Metreon shopping center in 2009, not long after selling the entire Sony-themed building away to other real estate groups in 2006.
As noted by the New York Post, Sony’s New York headquarters is now worth between $700 million and $1 billion, so finding a buyer in this economy might be a little tough. Sony plans to sell the building to help offset a $5.7 billion loss in their last fiscal year, a direct result of their electronics division—namely, the PlayStation suite, their tablet and PC lineup, and their computers division.
Currently, the Sony building hosts the Sony Wonder Technology Lab, a huge Sony/PlayStation store, and acts as a venue for various business and media events. Anyone in the market for a $1 billion-dollar building?
Source: New York Post
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