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Sony is selling its New York HQ, then re-renting it

18 January, 2013 | Read the news | Post your comment
Sony is selling its New York HQ, then re-renting it - read the full textSony announced it's selling its headquarters building, located on 550 Madison Avenue, New York. The sale price is $1.1 billion. What's interesting is that under the conditions of the deal, which should go through some time in March, Sony's various businesses will stay in the building for another...

 

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I'm not a Sony fan but I like what Sony is doing here. Owning such a huge building (in NY!!!) as an electronics company is just plain stupid. This is dead money that could be invested in R&D. And... what the article is not mentioning is that it was actually a pretty profitable move by Sony. They bought the building only a few years ago from AT&T for a bit more than 200 million and sell it now for 1bn.

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  • 2013-01-18 21:20
  • Jx7t

> In reply to Common_636 @ 2013-01-18 20:17 from RcFM - click to readTRUE.

Sony is producing phones that are current and relevant. Samsung and Apple on the other hand are producing phones that dictates and lead the market.

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  • 2013-01-18 21:12
  • P$cP

> In reply to Common_636 @ 2013-01-18 20:17 from RcFM - click to readIt is the ugliest but indeed reigning supreme! Because they are the only company to stick to Android core attraction to customers: SD card, interchangeable battery and updating software for previous/current flagships (sometimes slow but main thing is they do update). Unlike other brands (Sony and HTC) who think going down the Apple route will win them customers. What stupidity, naivety and plain arrogance! They have got exactly what they deserved.

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  • 2013-01-18 20:56
  • LhZ5

They are selling it to utilize the money at hand for more profitable investments. Sony bought Ericsson, and bids to buy Olympus. There's no truth that Sony is in bankruptcy. The lost on the past years was due to the tragedy that struck japan. Sony is on the rise, i can see it, more and more are using Xperia. And more are getting interested. The news is so incomplete. Why is it for samsung even news about paints are detailed and Lies are hyped and misleading.

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  • 2013-01-18 20:53
  • v0qx

@katey dear u r right.

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  • 2013-01-18 20:50
  • 6Qmn

Good move by SONY. Bought it for 236 million sell it for 1.1 Billion. 550% return in 10 years. Not bad .....

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  • 2013-01-18 20:32
  • rA2H

> In reply to [deleted post]Never!!!

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  • 2013-01-18 20:22
  • fkeB

> In reply to Katey @ 2013-01-18 20:15 from uv84 - click to readI think you are the Joker...

No matter how big a company/corporation is... Hundreds of million of dollars IS a significant lost for anyone. I absolutely dislike when person say crap like that.

Do you think they go into their field of business to lose money?

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  • 2013-01-18 20:20
  • RcFM

> In reply to ashuishere @ 2013-01-18 18:49 from TL5a - click to readYou do realize neither Samsung nor Apple has released any flagships for 2013 right?...

And when it comes to usabilty and features all of samsung flagships are superior to Sony. Build quality and design does not show the whole story in these modern times. Example: GS3 arguable the uglyist flagship for 2012, but still reign supreme.

Im not saying Sony cant, but it will take them alot of work and years to reach where samsung and apple is at the moment, i cant speak for apple, but as we can see, Samsung is not lingering at the moment, when it comes to their flagships.

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  • 2013-01-18 20:17
  • RcFM

These news are totally incomplete.
Everything is a lie , neither sony and nokia are bankrupt nor they are saving for resources, i dont think the reporters have any idea where future hq s of nokia and sony are under construction ! Yes they are just moving to more attractive and expensive hq in 3 years.. Untill then rent one in which they are staying till ! Seriously does any one think that some hundred million dollars really matters to big corporations like sony and nokia ? Then you must be joking !

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  • 2013-01-18 20:15
  • uv84

> In reply to Marcio Ambrosi @ 2013-01-18 19:45 from JqII - click to readYup Sony is one of the companies who SET and ESTABLISHED the standards of many successful smartphones to date not only relying to other company's technology...replicating is their least choice to fight a FAIR COMPETITION...they produces BEST QUALITY OF ANY PRODUCTS regardless of specs and features of their smartphones...Sony is still Sony no matter what. :-)

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  • 2013-01-18 20:12
  • Kg%m

i love sony a great manufacture company with quality.. good luck sony with great future

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  • 2013-01-18 20:10
  • NFaR

More than just a premium brand a history of excellence in electronics. I wish the best for the best. Sony for ever.

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  • 2013-01-18 19:45
  • JqII

> In reply to [deleted post]r.i.p.? read first the article please...

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  • 2013-01-18 19:41
  • Kg%m

Nokia can sue Sony for copying business techniques.

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  • 2013-01-18 19:34
  • t7TY

Just 1 Question.....

Sony are you MAD?

You can make 1 or 2 Billion Dollars from good phones & playstation, if you could produce that, but you are going to become just like F**king Nokia.

Cheers!!

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  • 2013-01-18 19:26
  • vG0E

i love sony so much... i pray sony always stand on no 1 position.. other companies like aple, samsung's fans afraid with sony's quality products. don't worry dear now sony again gain its position no 1

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  • 2013-01-18 19:21
  • NFaR

http://washpost.bloomberg.com/...MJRGORPDP802 I love Sony for being too honest...and I believe they are doing this for their employees too :-)

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  • 2013-01-18 19:09
  • Kg%m

> In reply to m1l4droid @ 2013-01-18 18:35 from JLRQ - click to readDude, they didn't sell their main hq. Sony is just starting over for their loss in the past few years. Wish good luck for Sony.

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  • 2013-01-18 19:06
  • th9K

> In reply to ashuishere @ 2013-01-18 18:49 from TL5a - click to readyeah maybe true...but we don't know what's the real score on Sony, Sony is not just only focuses on smartphones and other gadgets they are also onto films and entertainment...so maybe Sony is have plan...for betterment :-)

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  • 2013-01-18 19:01
  • Kg%m

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