The Burbank, California-based media conglomerate, tapping into all that “Avengers franchise money” to build a new headquarters in Manhattan after signing a 99-year lease for $650 million.
The broadcasting company, which has had a presence in New York City for decades, will take up more than 1.2 million square feet.
Earlier this year, rumors swirled that ABC was considering an acquisition of 4 Hudson Square, which comes out to the north of $800 per square foot.
The deal comes just as ABC agreed to sell its current headquarters on West 66th Street to Silverstein Properties for more than $1 billion. The broadcaster is expected to lease back the facilities from Silverstein for several years until the new Trinity building is ready.
The new headquarters is also expected to be modern and energy-efficient. It is bounded by Hudson, Varick, Vandam and Spring streets. Eastdil Secured represented Disney while Trinity was represented by CBRE.
“In addition to being LEED-certified for environmental responsibility and efficiency, the new building will also incorporate the latest technology as well as the ability to adapt to the next generation of technological advances,” Disney chair Robert Iger said, in a statement.
Production from the Upper West Side’s WABC-TV headquarters along with Disney Streaming Services, which are currently filmed in Chelsea Market, will likely switch over to the Trinity location as well.
Meanwhile, Disney received government approval to go ahead with its blockbuster acquisition of the entertainment assets of 21st Century Fox.
Last month, the U.S. Department of Justice approved Disney’s $71 billion bid.
