Walt Disney Co. and Trinity Church Wall Street announced that Disney has purchased the rights to develop Trinity’s property at 4 Hudson Square in New York City.
The property will be the new site of Disney’s New York operations, according to ABC7NY.com.
Under a transaction valued at $650 million, Disney will acquire the rights to develop the 4 Hudson Square site for 99 years.
The new, modern facility is expected to create thousands of jobs during the development and construction. The new energy and resource-efficient building will include offices and production spaces, including flagship homes for WABC-TV, which broadcasts “Live with Kelly and Ryan” and “The View.”
According to The Real Deal, the five-parcel site allows for one large building and offers 1.2 million sq. ft. of rentable space but is zoned for only 800,000 sq. ft.