The historic CBS Broadcast Center on W57th Street could be on the move, as the company considers a sale and relocation from the West Side.
According to a report by Steve Cuozzo at New York Post, the company will put out a request for proposals to sell the broadcast HQ and find a new home in Manhattan.
The CBS Broadcast Center takes up a whole city block of Hell’s Kitchen from W56th to W57th Streets between 10th and 11th Avenues — and covers approximately 3.7 acres and consists of approximately 860,000 square feet of office, studio and production space (according to a December 2022 Paramount Global SEC filing). CBS and Viacom merged in 2019 to form ViacomCBS, which later became Paramount Global.
The main building that houses CBS was originally opened as a milk depot and distribution center for Sheffield Farms in June 1938 at a cost of $2,500,000. CBS acquired the site in 1952 and by 1963 it had become a major television hub. A plaque on the building calls it a “Historic Site in Journalism” and praises CBS’s pioneering role as “founder of broadcasting’s first independent news system.” CBS consolidated its radio operations into the Broadcast Center in July 1964.
The CBS Broadcast Center hosts much of their news operations — although CBS This Morning moved to Times Square in 2021. It is also home to weekly entertainment shows such as The Drew Barrymore Show and Last Week Tonight with John Oliver. In the 1980s, the center even hosted a show called West 57th.
Real estate specialists estimate that a $1 billion-plus price tag for the headquarters would not be unreasonable. In August 2021, CBSViacom sold its Midtown HQ, known as Black Rock, at 52 W52nd Street for $760 million to Harbor Group. It had originally asked $1 billion for that 870,000-square-foot building.
Cuozzo said in his report that “a relocation of any size would mark the end of an era for the network and for the far West Side.” However, if CBS wants to stay in Hell’s Kitchen, the planned development of Pier 94 as a TV Studio would be an obvious option. There is no indication if CBS is looking to increase or reduce its square footage — but the new Hudson River site has the possibility of expansion, with there currently being no plans for Pier 92 next door.
This is not the first time that the network has considered a sale of the site. In January 2020, Globe Street reported that ViacomCBS was moving towards a sale and had in November 2019 issued a termination-of-lease memo for the CBS Broadcast Center. This memo included a total of seven properties: 530 W57th St, 513 W56th St, 857-859 10th Ave, 510 W57th St, 514 W57th St, 524 W57th St and 508 W57th St.
UPDATE: Tuesday, June 6. The Hollywood Reporter published a memo sent to staff by CBS chief George Cheeks confirming that the company is exploring a sale.
“It is true that the company has retained a real estate consultant to evaluate selling the BC and to identify a new home for our teams there,” Cheeks wrote, adding that “we see this as an opportunity to invest in and reimagine a new facility that will support teams that are central to our success today and in the future.”
MEMO
Team – You may have seen media reports about the potential sale of the CBS Broadcast Center in Manhattan. It is true that the company has retained a real estate consultant to evaluate selling the BC and to identify a new home for our teams there.
We are in the early stages of this process. The timeline for any potential sale, design and build of a new facility and an eventual move is very hard to predict. If a transaction happens, it will likely be some time before there would be any significant changes to our current operation.
We see this as an opportunity to invest in and reimagine a new facility that will support teams that are central to our success today and in the future.
I will keep you updated on any new information regarding this potential transition as it progresses.
George
We will update this story as we receive more information. We have reached out to Paramount Global and CBS for comment.
CBS This Morning now comes from 1515 Broadway in the TRL studios
Good morning, Luke. CBS This Morning did move in 2021 — and now host their streaming news service and other news operations at the center. They did pop back to W57th briefly… We have corrected the story. Thank you.
If CBS relocates to another spot, may be the city can convert their old space to another illegal migrant shelter
Shut up John no one cares
I’m sorry nobody loved you while you were growing up.
Well, Johnny, that is the worst case scenario & I hope that doesn’t happen. We don’t need/want any more illegals in this neighborhood. Now they are outselling licensed vendors for water/soda in Central Park.