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ViacomCBS Sells Black Rock Building In Midtown Manhattan To Harbor Group For $760 Million
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deadline.comViacomCBS has clinched a sale of the CBS Building known as Black Rock for $760 million to real estate investment and management firm Harbor Group InternationalIt’s the first sale of the landmark building at 51 West 52nd Street in midtown Manhattan since it opened in 1964.
The media giant put the building on the block in 2019 as it looked to shed noncore assets, but a sale was delayed by the pandemic.As the former owner-occupier, ViacomCBS will lease back its space on a short term basis.The transaction is expected to close before the end of the year.“This agreement follows the previously announced strategic review of non-core assets that we completed shortly after our merger,” said ViacomCBS Naveen Chopra. “The use of proceeds from this
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