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Sony to sell US headquarters for $1.1 billion

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Various divisions to remain in NYC building for another three years

Sony has agreed to sell its US headquarters for $1.1 billion to real estate firm Cherit Group, according to Bloomberg.... read more

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Sony to sell US headquarters for $1.1 billion

Postby Asinine » 18 Jan 2013, 11:04

In the immortal words of The Doors "This is the end. My only friend, the end"

It's a shame they have to sell the house, raising capital and outlaying for rent each year is a bit of a last gasp for disposable income. Good luck to Sony, it would be a big shame to see them do badly the next gen and bow out. Whether you like Sony or not, having competition in the market is only a good thing, whether keeping prices down or inventing or incorporating new tech into the consoles is how the three battle it out and thats all good for the consumer.
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Re: Sony to sell US headquarters for $1.1 billion

Postby starvinbull » 18 Jan 2013, 11:26

Asinine wrote:In the immortal words of The Doors "This is the end. My only friend, the end"

It's a shame they have to sell the house, raising capital and outlaying for rent each year is a bit of a last gasp for disposable income. Good luck to Sony, it would be a big shame to see them do badly the next gen and bow out. Whether you like Sony or not, having competition in the market is only a good thing, whether keeping prices down or inventing or incorporating new tech into the consoles is how the three battle it out and thats all good for the consumer.


If there's one thing I'd say is Sony's biggest achievment in videogames it'd be the sheer amount of new IP they have put out on 3 consoles. Even now people still have The Last of Us, Beyond Two Souls and The Last Guardian to look forward to, which is pretty audacious for a console manufacturer on the back foot in the dying months of their current console.
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Re: Sony to sell US headquarters for $1.1 billion

Postby Stan_Goodspeed » 18 Jan 2013, 11:36

starvinbull wrote:
Asinine wrote:In the immortal words of The Doors "This is the end. My only friend, the end"

It's a shame they have to sell the house, raising capital and outlaying for rent each year is a bit of a last gasp for disposable income. Good luck to Sony, it would be a big shame to see them do badly the next gen and bow out. Whether you like Sony or not, having competition in the market is only a good thing, whether keeping prices down or inventing or incorporating new tech into the consoles is how the three battle it out and thats all good for the consumer.


If there's one thing I'd say is Sony's biggest achievment in videogames it'd be the sheer amount of new IP they have put out on 3 consoles. Even now people still have The Last of Us, Beyond Two Souls and The Last Guardian to look forward to, which is pretty audacious for a console manufacturer on the back foot in the dying months of their current console.


I agree, regardless of one's feelings toward Sony it's an important part of gaming right now and if the Vita is any indication their next gen console is gonna be one hell of a quality product. Whether it sells well or not, and turns the company's fortunes around to the PS1/PS2 days is another debate.
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Re: Sony to sell US headquarters for $1.1 billion

Postby lifebrink » 18 Jan 2013, 11:40

I honestly dont think that Sony are as bad as people are making out. The have had massive losses recently 3.6 billion, of which they say the tsunami had a big hand, they are getting killed with the competition on TV's etc, so yes they have had a good kicking recently but any company making such losses would do the same with assets.

They seem to be stream lining their organization, they have realized they need to make changes and return to a profit by becoming more competitive by reducing their over heads.

Its the same where I work, I working in a manufacturing factory and the moment sales are not coming in they lay off all the temps. If sales are still low then they freeze pay rises .... if it keeps getting worse then they lay of staff! They would do everything to make the business stay open.

Sony are operating at a loss which is a fact but I dont think they are that close to closing anytime soon if at all!
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Re: Sony to sell US headquarters for $1.1 billion

Postby Drusus » 18 Jan 2013, 11:49

starvinbull wrote:
Asinine wrote:In the immortal words of The Doors "This is the end. My only friend, the end"

If there's one thing I'd say is Sony's biggest achievment in videogames it'd be the sheer amount of new IP they have put out on 3 consoles. Even now people still have The Last of Us, Beyond Two Souls and The Last Guardian to look forward to, which is pretty audacious for a console manufacturer on the back foot in the dying months of their current console.


Audacious or desperate, "This is the end. Beautiful friend"

I feel bad now, I sort of agree with you, I think it's admirable they continue to push new IP's at this late stage.
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Re: Sony to sell US headquarters for $1.1 billion

Postby chedda memba » 18 Jan 2013, 11:56

I really hope Sony do well next gen as Microsoft need the competition but personally i cant see them returning to their former glory. Microsofts pockets are just too deep and they have research resources Ninty or Sony simply dont.
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Re: Sony to sell US headquarters for $1.1 billion

Postby FishyGinger » 18 Jan 2013, 12:10

They have a core following, if they don't make stupid decisions (crap pricing, weird adverts and strange ps store decisions) they can keep it together.

ps3 is the only playstation thing I've bought and even that was mostly for the bluray player on a phone deal but I'd hate to see them go.
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Re: Sony to sell US headquarters for $1.1 billion

Postby Two Pennys Worth » 18 Jan 2013, 12:13

Really hope SONY can pull through these tough times. If they can weather the storm they'll be one lean mean grilling machine (like the PS3) :D
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Re: Sony to sell US headquarters for $1.1 billion

Postby Get Over Here » 18 Jan 2013, 12:16

chedda memba wrote:I really hope Sony do well next gen as Microsoft need the competition but personally i cant see them returning to their former glory. Microsofts pockets are just too deep and they have research resources Ninty or Sony simply dont.


Things are going to be very difficult for Microsoft over the course of this gen too you know, what with Windows OS being seriously undermined by Google and Apple. Both will struggle for past glories methinks.
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Re: Sony to sell US headquarters for $1.1 billion

Postby toaplan » 18 Jan 2013, 12:18

It's only 5 or so years since Sony and Ninty enjoyed huge global success with the PS2, PSP, Wii & DS, so I'd say it's too early to count the Japanese out yet - even though US and Korean tech companies have the upper hand for now.

That said, in the late '80s when the Japanese economy was at the height of its power, Japanese companies were buying all the commercial US real estate they could get, but now they seem to be in selling mode...
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Re: Sony to sell US headquarters for $1.1 billion

Postby StonecoldMC » 18 Jan 2013, 12:28

Sony have been left behind in so many verticals recently, sales wise anyway.

iPpod > The Walkman
Samsung/Panasonic TV's - Sony TV's
Macs / Tablets > Vaio's
etc etc etc

There Music, Film and Gaming divisions are the only ones that show any kind of growth and profitability. Ditch the TV's and s**t and concentrate on Entertainment, Sony.
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Re: Sony to sell US headquarters for $1.1 billion

Postby Agent75 » 18 Jan 2013, 12:30

Same old story has been running for years. Sony don't make a profit on teles, yet they still bang them out. In another article, they even admitted that they reply on customers who're prepared to pay extra. Looking at Sony at the moment, it appears that customers are not paying that little bit extra. The likes of LG and Samsung have taken a lot of business away from Sony. The PlayStation brand is on its knees, more so the Vita. Rumours that Sony are going to ditch the PlayStation brand for Orbis, I just can't see how they're going to pull it off. The Sony brand is too tarnished. The only way they'll make a come back is if they wake up and reduce their prices.
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Re: Sony to sell US headquarters for $1.1 billion

Postby sammikid » 18 Jan 2013, 12:34

People shouldn't look at this in a bad way, they are restructuring the company and a building worth 1.1 billion isn't necessary given the debt they have. All this is, is a smart move on Sony's behalf.
Given the fact the US isn't their strongest market when it comes to playstation, they'll probably be focusing on the markets that bring them in the most revenue. I'm sure they have a game plan to keep afloat for a number of years yet with many assets, this building being only one of them.
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Re: Sony to sell US headquarters for $1.1 billion

Postby Agent75 » 18 Jan 2013, 12:37

chedda memba wrote:I really hope Sony do well next gen as Microsoft need the competition but personally i cant see them returning to their former glory. Microsofts pockets are just too deep and they have research resources Ninty or Sony simply dont.


Looking at the whole picture, Sony did Nintendo over with the PS and PS2, but then Nintendo did Sony over with the Wii. Microsoft came along and moved into second place with the Xbox 360, but there is a chance that the PS3 could overtake it. I can't see the Wii U doing as well as the Wii, as most gamers wised up to it. On top of that, most gamers are waiting for the Xbox 720 and PS4. Even if the PS4 is more powerful than the Xbox 720, who's going to be bothered? Next gen consoles won't be a big step up from current consoles.
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Re: Sony to sell US headquarters for $1.1 billion

Postby Agent75 » 18 Jan 2013, 12:38

chedda memba wrote:I really hope Sony do well next gen as Microsoft need the competition but personally i cant see them returning to their former glory. Microsofts pockets are just too deep and they have research resources Ninty or Sony simply dont.


Looking at the whole picture, Sony did Nintendo over with the PS and PS2, but then Nintendo did Sony over with the Wii. Microsoft came along and moved into second place with the Xbox 360, but there is a chance that the PS3 could overtake it. I can't see the Wii U doing as well as the Wii, as most gamers wised up to it. On top of that, most gamers are waiting for the Xbox 720 and PS4. Even if the PS4 is more powerful than the Xbox 720, who's going to be bothered? Next gen consoles won't be a big step up from current consoles.
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