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Sony is moving ahead with the potential sale of its US headquarters at 550 Madison Ave., The Post has learned.
The president of Sony’s US unit told workers yesterday that the company was planning to hire brokers to explore a sale of the Midtown skyscraper designed by noted architect Philip Johnson, according to an e-mail obtained by The Post.
The 36-story building, formerly AT&T headquarters, is also known as the “Chippendale Building” for its unique top that resembles a Chippendale highboy.
“The building has considerable value locked in it, given its location, size and iconic design,” Nicole Seligman, president of Sony Corp. of America, said in the e-mail. “Combine that with the current real estate market conditions in New York and interest rates, and it’s wise to at least explore our options in the coming weeks and months.”
The building mostly houses music units — Sony Music and Sony/ATV — and some Sony Pictures staff, as well as corporate offices.
With 825,000 square feet and a 30,000-square-foot annex, the building could fetch between $700 million and $1 billion, according to real-estate sources.
Sony’s relatively new chief executive, Kazuo Hirai, has pledged to return the Japanese electronics and entertainment giant to profitability and curtail its struggling TV business after reporting a record $5.6 billion loss last year.
The Post reported first on June 13 that Sony was mulling a possible sale of the building, along with options including renting out part of the building and a sale-leaseback transaction.
Sony reiterated yesterday that it was still considering other options.
“At the same time, while a sale of the building would result in a financial benefit for Sony, we’re mindful that any sale could have important long-term repercussions for the company and for those who work here in New York. Our decisions must make sense, both now and for many years into the future.”