You will be redirected back to your article in seconds

Random house HQ sold

Transaction a successful action?

COLOGNE — Bertelsmann has sold the New York offices of its subsidiary Random House for $297 million to U.S. real estate fund group Jamestown.

Bertelsmann will lease back the office space for 15 years, with an option to extend by another 25 years. Random House will continue to be the exclusive office tenant at 1745 Broadway, where it moved after construction was completed earlier this year. It occupies the 25 lower floors of the building; the upper 25 floors are privately owned residential spaces.

“Thanks to this successful transaction, we can further focus our financial resources on developing our businesses in the U.S. and elsewhere as we maintain a long-term state-of-the art home for Random House,” said Bertelsmann’s CFO, Siegfried Luther. Bertelsmann and Jamestown previously had a 10-year relationship with another U.S. real estate venture.

More Biz

  • Dana Spector Joins CAA

    Dana Spector Joins CAA

    COLOGNE — Bertelsmann has sold the New York offices of its subsidiary Random House for $297 million to U.S. real estate fund group Jamestown. Bertelsmann will lease back the office space for 15 years, with an option to extend by another 25 years. Random House will continue to be the exclusive office tenant at 1745 […]

  • ALLENTOWN, PA - SEPTEMBER 08: Elton

    Elton John and Universal Music Announce New Multi-Level Agreement

    COLOGNE — Bertelsmann has sold the New York offices of its subsidiary Random House for $297 million to U.S. real estate fund group Jamestown. Bertelsmann will lease back the office space for 15 years, with an option to extend by another 25 years. Random House will continue to be the exclusive office tenant at 1745 […]

  • Sarah Jessica Parker Gap

    Sarah Jessica Parker Unveils Second Collaboration With Gap

    COLOGNE — Bertelsmann has sold the New York offices of its subsidiary Random House for $297 million to U.S. real estate fund group Jamestown. Bertelsmann will lease back the office space for 15 years, with an option to extend by another 25 years. Random House will continue to be the exclusive office tenant at 1745 […]

  • Women in Hip-Hop Industry Get the

    Women in Hip-Hop Industry to Get the Spotlight at A3C Conference

    COLOGNE — Bertelsmann has sold the New York offices of its subsidiary Random House for $297 million to U.S. real estate fund group Jamestown. Bertelsmann will lease back the office space for 15 years, with an option to extend by another 25 years. Random House will continue to be the exclusive office tenant at 1745 […]

  • Streaming Placeholder

    RIAA Issues Bullish Mid-Year Report: Revenue Up 10%, Streaming Now 75% of Total

    COLOGNE — Bertelsmann has sold the New York offices of its subsidiary Random House for $297 million to U.S. real estate fund group Jamestown. Bertelsmann will lease back the office space for 15 years, with an option to extend by another 25 years. Random House will continue to be the exclusive office tenant at 1745 […]

More From Our Brands

Access exclusive content