Disney is building a new headquarters in downtown Manhattan

Business


The house that Mickey Mouse built now owns property at 4 Hudson Square.

The Walt Disney Co. acquired the rights to develop a new headquarters on a Trinity Church-owned site.

The Burbank, California-based media conglomerate, tapping into all that “Avengers” money, plans to build a new headquarters in Manhattan after signing a 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 north of $800 per square foot (h/t The New York Post).

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 prepared 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.

Chelsea Market is the massive office and studio space owned by Alphabet Inc.

“Good Morning America,” meanwhile, will remain in Times Square.

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.

More from New York Business Journal:

Discovery selects Park Avenue address for new global HQ

After years of delays and stalled plans, Three World Trade opens

Florida-based Westgate Resorts acquires historic NYC hotel



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