NEW YORK CITY-After recently selling its headquarters building at 550 Madison Ave., Sony is relocating operations to 11 Madison Ave.
The electronics firm has signed a term sheet for more than 500,000 square feet of space at the 30-story, 2.3-million-square-foot tower, according to the New York Post.
In connection with the Sony deal, building owners Rotem Rosen and Alex Sapir of the Sapir Organization, along with their 49% partner, CIM Group, have reached a new arrangement with Credit Suisse. The financial firm will consolidate into 1.5 million square feet at the base of the tower, leaving the top of the building for Sony. See story in the New York Post.
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