From an interview with Larry Silversteiin...
https://commercialobserver.com/2018/...y-silverstein/
BY CATHY CUNNINGHAM
NOVEMBER 28, 2018
Quote:
Switching gears to the Upper West Side, can you talk us through Silverstein’s $1.2 billion acquisition of the ABC Campus?
ABC decided to sell its campus and to move to new facilities; they outgrew what they had up there and needed something new and modern. When they decided to sell it I looked at that real estate and literally fell in love with it; I knew it was a magnificent piece of real estate that was worth buying for future development.
They will stay in possession of the main campus—at 66th to 67th Streets on Columbus Avenue—for five years. At the end of those five years they will vacate and we can demolish the real estate and build a residential property.
They have additional buildings that we’re also getting on West End Avenue at 65th to 67th Streets. The West End Avenue properties are different from the campus, and that real estate they will probably stay in possession of for three years. There we will develop in 2020 to 2021 and by 2024 we’ll have the residential buildings complete. The redevelopment of the main campus will take longer. We’re thinking multiple towers. But you’ll have to stay tuned to see what it looks like.
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