CBS Viacom

ViacomCBS Sells CBS Broadcasting’s Iconic New York Office Tower

319 0

(CelebrityAccess) — ViacomCBS has sold the high-profile skyscraper that served as the headquarters for CBS Broadcasting since 1964.

The building, nicknamed Black Rock, was sold to Harbor Group International, a private real estate investment firm for or a purchase price of $760 million, according to regulatory filings from ViacomCBS.

The iconic tower, located at 51 West 52nd Street in midtown Manhattan, was designed by noted Finnish-American architect Eero Saarinen, and was designated as a historic landmark by the city in 1997.

CBS previously attempted to sell the building twice in the 1990s and ViacomCBS attempted to sell it again in 2020, following the merger that reunited the two companies but failed to obtain sufficiently attractive bids in both cases.

According to ViacomCBS, they plan to use the proceeds of the sale, which is expected to close before the end of 2021, to fuel the expansion of their streaming platforms such as PlutoTV and Paramount+.

Related Post