Disney Enters Into $650 Million NYC Deal for Hudson Square Offices

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The Walt Disney Company is looking to move it’s New York City Offices to a new location at Hudson Square.

Recently, Disney has agreed to sell their current offices on West 66th Street in Manhattan’s Upper West side to Silverstein Properties Inc. for 1.15 billion. They are currently securing a separate contract for “99-year rights for land at 4 Hudson Square from Trinity Church Wall Street” for a new location, at a cost of $650 million.

Bob Iger, CEO of the Walt Disney Company, announced the changes yesterday stating:

This move represents an historic step forward toward our long-term vision for our New York operations. The Hudson Square district is rapidly becoming a dynamic, innovative hub for media, technology and other creative businesses.

The new plans will allow Disney to build a new cutting edge facility, while consolidating most of it’s New York television productions. This will be the new home for ABC News shows (except Good Morning America, which will remain at Times Square,) WABC- the local affiliate, and the upcoming video-streaming service.

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Overall it’s kind of exciting. I look forward to seeing their new “high-tech” building. I’m sure it will streamline production and costs for the company.

What do you think? Comment and let us know!

Sources: Bloomburg, The Wall Street Journal

 

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Disney has been a big part of my life for years--from family trips to WDW to growing up on Disney classics, TV, and movies. I'm a mom and an art teacher. I love to share my love for Disney and I'm also a co-host of the Disney fan podcast Pirates and Princesses (PNP.) Opinions, like my freckles, are all mine.

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