Disney purchases Hudson Square site for $650M to build new campus

The Walt Disney Company has announced plans to develop the site at 4 Hudson Square into the new home for Disney’s New York headquarters.

Disney Chairman and CEO Robert A. Iger, along with Trinity Church Wall Street Reverend Dr. William Lupfer announced that the company has purchased rights to develop the block-long site, owned by Trinity Church Real Estate, in a transaction valued at $650 million. According to The Real Deal, the five-parcel site allows for one large building and offers 1.2 million square feet of rentable space but is zoned for only 800,000 square feet.

The new building will aim for LEED certification and will become the new flagship home for WABC-TV, ABC News, The View, and Live with Kelly and Ryan. Disney Streaming Services will also relocate from its current location within Chelsea Market to the new Hudson Square building, while Good Morning America will continue broadcasting from Times Square.

Iger called the move “a historic step forward” in a statement. “The Hudson Square district is rapidly becoming a dynamic, innovative hub for media, technology and other creative businesses,” he continued. “We are pleased and proud to be joining this exciting community and look forward to investing in the growth and development of the neighborhood.”

As Curbed columnist Nathan Kensinger previously reported, “One of the largest property owners along Canal Street is Trinity Church, which was granted 215 acres of land here by Queen Anne in 1705. Trinity is now actively redeveloping its multiple properties in Hudson Square, yet most of the church-owned commercial storefronts along Canal Street remain empty.” Those include 1 Hudson Square, the future home of the Jackie Robinson Museum, and 205 Hudson Street.

The purchase coincides with the announcement that Disney is selling its Upper West Side headquarters, located along West 66th Street and West End Avenue, to Silverstein Properties in a $1 billion deal that is expected to close some time this month.

• Disney picks up massive Hudson Square site for $650M [The Real Deal]