Sony gets a new building

Cuz I know how much our amateur business analyst division loves this sort of thing.

Sony Corporation of America Signs Lease for Tower Space at 11 Madison Avenue

February 24, 2014 11:02 AM Eastern Standard Time

NEW YORK--(BUSINESS WIRE)--Sony Corporation of America has signed a 15-year lease with The Sapir Organization and CIM Group for approximately 525,000 square feet of space at 11 Madison Avenue, the iconic office building overlooking Madison Square Park in Manhattan’s Flatiron District. Sony will occupy the top 10 floors of the building, as well as the rooftop, and will have a dedicated entrance at the corner of Madison Avenue and 25th Street with the address of 25 Madison Avenue.

“We are pleased to have Sony join our other long-standing anchor tenant, Credit Suisse, and to have two world-class corporations that have made long-term commitments to the building.”

The space will serve not only as the U.S. headquarters of Tokyo-based Sony Corporation, but also as the global headquarters of both Sony Music Entertainment and Sony/ATV Music Publishing. New York-based employees of Sony Pictures Entertainment and Sony DADC will also move to 25 Madison Avenue. The Sony Store will occupy the ground-floor retail space on Madison Avenue adjacent to Sony’s dedicated building entrance.

Sony plans to move from its current U.S. headquarters at 550 Madison to its new space in early 2016. STUDIOS architecture will develop the space. Sony sold 550 Madison Avenue in 2013 to a consortium led by The Chetrit Group for approximately $1.1 billion.

“We’re excited to be moving to this magnificent building in one of New York City’s most dynamic and desirable neighborhoods,” said Nicole Seligman, President of Sony Corporation of America. “Our new home will put us right where we belong: among the city’s leading cutting-edge technology and entertainment companies.”

“Sony’s move to 11 Madison is a testament to my father’s vision that the building would become one of New York’s most distinguished and desired office headquarters,” said Alex Sapir, President of The Sapir Organization, which owns 11 Madison with CIM Group. “We are pleased to have Sony join our other long-standing anchor tenant, Credit Suisse, and to have two world-class corporations that have made long-term commitments to the building.”

“Today’s news further confirms our conviction that the Flatiron District is increasingly a highly sought-after community for some of the world’s leading corporations that also features some of New York City’s premier residential towers, restaurants, shops, cultural, and entertainment venues,” said Avi Shemesh, Principal at CIM.

Terms of the lease agreement were not disclosed.

ABOUT SONY CORPORATION OF AMERICA

Sony Corporation of America, located in New York, NY, is the U.S. headquarters of Sony Corporation, based in Tokyo, Japan. Sony's principal U.S. businesses include Sony Electronics Inc., Sony Mobile Communications (USA) Inc., Sony Computer Entertainment America LLC, Sony Network Entertainment International LLC, Sony Pictures Entertainment Inc., Sony Music Entertainment, Sony/ATV Music Publishing LLC, and Sony Online Entertainment LLC. With some 900 million Sony devices in hands and homes worldwide today, a vast array of Sony movies, television shows and music, and the PlayStation Network and the Sony Entertainment Network, Sony creates and delivers more entertainment experiences to more people than anyone else on earth.

ABOUT THE SAPIR ORGANIZATION

The Sapir Organization is a group of privately held companies, owned by Sapir family members. Collectively, this New York-based real estate Organization owns and manages approximately 6 million square feet of prime Manhattan commercial and residential space. Founded by Mr. Tamir Sapir, chairman, the Organization has embarked on residential and multi-use projects under the leadership of Mr. Alex Sapir and Mr. Rotem Rosen through ASRR, LLC. The Organization owns and manages significant architectural landmarks throughout Manhattan, including 11 Madison Avenue, 2 Broadway, Trump Soho Hotel & Condominium, 260 Madison Avenue, 261 Madison Avenue and two residential buildings, 50 Murray Street and 53 Park Place.

ABOUT CIM

CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com

Buildings! Important things are important.

Behold! This mighty castle and it's crown is Sony! They even own the roof. Probably so they can see the piles of money they make from the PS4.

Closes some small stores...gets a tower.

They need a tower to drop a delsin on all the haters.

Meanwhile, At nintendo

@TorqueHappens08: LOL...but come on...Nintendo is games.

sweet, now if they could only respond to my job applications, that would be great

Its like the ivory tower. SDC.

@TorqueHappens08: Why'd you erase your post?

sweet thread bro.

@TorqueHappens08 said:

Meanwhile, At nintendo

Dayum!!

@Shewgenja: gonna be while before they see that money. 6 billion dollar trench around that castle needs to be filled first. gonna have to go by. I live on 24st 7 th ave, and that building is on my way to the VA. Also, they didn't "get" the building. Its a lease. Company is making good, tough, moves to strip down. Necessary and I believe in the next decade they can rise up.

If being called a Cow for not cheerleading for an overpriced TV remote is the worst that can happen on this board, then so be it.

I actually consider myself Glorious VR Gaming Master Race once I get my OR and Morpheus.

Dat PS4 money is doing wonders

Misleading title is misleading.

They are leasing it.

Just like cows are leasing their games with PSN+

bbbbbbbut sony is bankrupt

That's okay, we still call the XBone a games console despite it being a TV remote for people who have no one to talk to.

They must be getting a good deal then. Just like PS+.

Renting =\= owning

it's a lease not own

@MonsieurX: wow never thought I'd see somebody get jelly over the leasing of property. but that's a herm for you. Keep on beggin'. B-)

Owning > leasing

Must be too poor to understand that :(

To be fair: "Sony plans to move from its current U.S. headquarters at 550 Madison to its new space in early 2016"

They're only moving.

@MonsieurX: heh. my son, to be a herm means to live in squalor and to only be able to afford games when they are $2 on Steam.

to make a general statement like owning is better than leasing proves that you never dealt with any type of finances whatsoever.

you should at least help out with your parents mortgage. that basement isn't going to pay for itself.

keep on beggin

Poor xboxdone74,can't afford to have his own place :(

Or rents the top ten floors of one.

lol damn

@MonsieurX: ssshh. My son. I understand, you wish to be as successful as I am. Well, relying on monthly welfare is not going to provide that.

I can help you, my child. I can provide for you that which your spawn parents have not.

Come out of the cold, dank darkness of basement dwelling, and allow me to help you, to help yourself.

I wonder if they will re-employ the thousands of employees they left jobless over the last few years to work in their rented office space. I pay rent too...do I get a thread.

-2/10

Sad when ya have to talk about buildings and not games....this gen needs a swift kick in the ass.

@Shewgenja said:

Cuz I know how much our amateur business analyst division loves this sort of thing.

Sony Corporation of America Signs Lease for Tower Space at 11 Madison Avenue

February 24, 2014 11:02 AM Eastern Standard Time

NEW YORK--(BUSINESS WIRE)--Sony Corporation of America has signed a 15-year lease with The Sapir Organization and CIM Group for approximately 525,000 square feet of space at 11 Madison Avenue, the iconic office building overlooking Madison Square Park in Manhattan’s Flatiron District. Sony will occupy the top 10 floors of the building, as well as the rooftop, and will have a dedicated entrance at the corner of Madison Avenue and 25th Street with the address of 25 Madison Avenue.

“We are pleased to have Sony join our other long-standing anchor tenant, Credit Suisse, and to have two world-class corporations that have made long-term commitments to the building.”

The space will serve not only as the U.S. headquarters of Tokyo-based Sony Corporation, but also as the global headquarters of both Sony Music Entertainment and Sony/ATV Music Publishing. New York-based employees of Sony Pictures Entertainment and Sony DADC will also move to 25 Madison Avenue. The Sony Store will occupy the ground-floor retail space on Madison Avenue adjacent to Sony’s dedicated building entrance.

Sony plans to move from its current U.S. headquarters at 550 Madison to its new space in early 2016. STUDIOS architecture will develop the space. Sony sold 550 Madison Avenue in 2013 to a consortium led by The Chetrit Group for approximately $1.1 billion.

“We’re excited to be moving to this magnificent building in one of New York City’s most dynamic and desirable neighborhoods,” said Nicole Seligman, President of Sony Corporation of America. “Our new home will put us right where we belong: among the city’s leading cutting-edge technology and entertainment companies.”

“Sony’s move to 11 Madison is a testament to my father’s vision that the building would become one of New York’s most distinguished and desired office headquarters,” said Alex Sapir, President of The Sapir Organization, which owns 11 Madison with CIM Group. “We are pleased to have Sony join our other long-standing anchor tenant, Credit Suisse, and to have two world-class corporations that have made long-term commitments to the building.”

“Today’s news further confirms our conviction that the Flatiron District is increasingly a highly sought-after community for some of the world’s leading corporations that also features some of New York City’s premier residential towers, restaurants, shops, cultural, and entertainment venues,” said Avi Shemesh, Principal at CIM.

Terms of the lease agreement were not disclosed.

ABOUT SONY CORPORATION OF AMERICA

Sony Corporation of America, located in New York, NY, is the U.S. headquarters of Sony Corporation, based in Tokyo, Japan. Sony's principal U.S. businesses include Sony Electronics Inc., Sony Mobile Communications (USA) Inc., Sony Computer Entertainment America LLC, Sony Network Entertainment International LLC, Sony Pictures Entertainment Inc., Sony Music Entertainment, Sony/ATV Music Publishing LLC, and Sony Online Entertainment LLC. With some 900 million Sony devices in hands and homes worldwide today, a vast array of Sony movies, television shows and music, and the PlayStation Network and the Sony Entertainment Network, Sony creates and delivers more entertainment experiences to more people than anyone else on earth.

ABOUT THE SAPIR ORGANIZATION

The Sapir Organization is a group of privately held companies, owned by Sapir family members. Collectively, this New York-based real estate Organization owns and manages approximately 6 million square feet of prime Manhattan commercial and residential space. Founded by Mr. Tamir Sapir, chairman, the Organization has embarked on residential and multi-use projects under the leadership of Mr. Alex Sapir and Mr. Rotem Rosen through ASRR, LLC. The Organization owns and manages significant architectural landmarks throughout Manhattan, including 11 Madison Avenue, 2 Broadway, Trump Soho Hotel & Condominium, 260 Madison Avenue, 261 Madison Avenue and two residential buildings, 50 Murray Street and 53 Park Place.

ABOUT CIM

CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com

Buildings! Important things are important.

Behold! This mighty castle and it's crown is Sony! They even own the roof. Probably so they can see the piles of money they make from the PS4.

Uhm, they are renting the top ten floors and the rooftop, not purchasing the building. They are leasing the floors like you lease games on PS+. Its a great building, but Sony isnt buying anything anytime soon.

Bu bu but I thought they were selling everything off.

Bu bu but I thought Xbox Won

Moving up from one rental space to another *Standing Ovation*

Leasing 10 floors, not a building. Carry on...

...that sounds really creepy

I'm glad someone else saw that.

now you know how you look when you say you are not a lem

That's not why you're a cow and you know it.

Continue mooing to your fellow cows cowgenja.

Very prestigious location but not a huge amount of space, for a company the size of Sony.

Where was the US HQ before this, or is this extra office space?

@TorqueHappens08 said:

Meanwhile, At nintendo

If this is their last gen they can always cook meth.