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Sony to sell its US Headquarters building, will lease it back

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Selling the real estate and leasing it back seems to be the newest trend for technology companies. After Nokia, Sony too has announced to sell its US headquarters based in New York City. The sale of the building will fetch Sony $1.1 billion and after repaying the debt and other transaction costs related to the building, Sony will net $685 that will be used as an operating income.

Sony sold the building to a consortium led by The Chetrit Group.

Reuters also claims Sony has put a similar offer in Japan where they could get as much as 100 billion yen ($1.14 billion).

[Via Engadget|Image]

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