<p>Sony has agreed to sell its North American headquarters to investors led by real estate firm Chetrit Group for $1.1 billion, according to <a href="http://www.bloomberg.com/news/2013-01-18/sony-to-sell-u-s-headquarters-to-chetrit-group-for-1-1-billion.html" target="_blank">Bloomberg</a>.</p>
<p>The headquarters in question are contained within a 37-storey building in New York, the sale of which is set to generate (after the repayment of related debt) around $770 million in cash, which will no doubt be welcomed by Sony after having posted a record loss of around $5.5 billion last year.</p>
<p>Despite the sale, various divisions located within the building will be allowed to remain in their current location for up to three years.</p>
<p>Speaking of the sale, Sony Corp. of America President, Nicole Seligman, said,</p>
<blockquote><p>&#8220;Given the opportunities and challenges in the current economic and real estate landscape, selling 550 Madison now is a timely and logical strategic move. Regarding our new headquarters, we continue to look at a number of spaces in Manhattan but have not yet made a decision about where to lease.&#8221;</p></blockquote>
<p>[Via: <a href="http://www.computerandvideogames.com/387231/sony-to-sell-us-headquarters-for-11-billion/" target="_blank">CVG</a>]</p>
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Sony agrees to sell US headquarters for $1.1 billion
- Categories: Game News
- Tags: PlayStationSCEASony
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