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ViacomCBS Exploring Selling CBS Broadcast Center

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Real Estate News site GlobeSt.com is reporting that ViacomCBS is exploring selling the CBS Broadcast Center in New York, according to unnamed sources.

 

https://www.globest.com/2020/01/23/viacomcbs-launches-broadcast-center-sale-plots-staff-consolidation

Quote

ViacomCBS could make a move to sell its CBS Broadcast Center at 524 W57th St. on Manhattan’s west side and potentially has plans to downsize its workforce into Viacom-occupied properties, sources tell GlobeSt.com.

 

 When contacted for a comment, a Viacom spokesperson told GlobeSt.com that this is not accurate, and that ViacomCBS is reviewing its entire real estate portfolio, but has made no further decisions.

 

However, sources have told GlobeSt.com that Darcy Stacom, chairman and head of New York City capital markets at CBRE, is marketing the sprawling building that takes up nearly one full block between 10th and 11th Avenues.

 

In addition, sources have told GlobeSt.com that ViacomCBS plans to discontinue its occupancy at the New York Life building at 28 East 28th St. in the Midtown South submarket and will consolidate its workforce into Viacom-occupied properties. CBS inked a 15-year deal for 164,000-square-feet of space at 28 East 28th St. last year.

In December, Bloomberg reported that they are also exploring the sale of their "Black Rock" headquarters building.

 

Given the amount of new development going on just across the street from the Broadcast Center property, it's more than likely that any sale would result in relocation and demolition of the existing building. Much like the current ABC News HQ, CBS Broadcast Center is actually a combination of about 7 different buildings, with the former Dairy building being the largest.

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It would be an absolute shame if the Broadcast Center is sold. There's a ton of history in that building and not just with the heritage of CBS News.

 

It would also put production of some unrelated shows into doubt - I know Last Week Tonight tapes there, as do a few other shows. It's not cheap to rent those studios out - why kill a revenue generator?

 

Visually, I could see setting up shop at Times Square proving beneficial for some shows, but I wonder if those offices have the bandwidth to house everything--network, local, digital, ALL the cable properties...would 60 Minutes (which is across the street) dare move with them?

Edited by TSSZNews

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