NEW YORK | 524 W. 57th (CBS Campus) | FT | FLOORS

[NYguy]

https://therealdeal.com/new-york/2025/07...finalists-to-redevelop-broadcast-center/

Paramount picks finalists to redevelop Midtown CBS broadcast center
Gotham Organization, Lincoln Property Company in the running





JUL 25, 2025
Holden Walter-Warner

With all of the noise surrounding Paramount Global these days, the redevelopment of its CBS Broadcast Center in Midtown Manhattan has flown under the radar.

The media conglomerate identified three developers as finalists to lead the project at 524 West 57th Street, Bisnow reported. The fate of the property has been up in the air as Paramount pursues a merger with Skydance, which was approved by the FCC on Thursday.

One finalist is New York City-based Gotham Organization. The developer has experience with the city’s rezoning process and led large-scale redevelopments in Long Island City, the Lower East Side and Hudson Yards.

Another finalist is Dallas-based Lincoln Property Company. While thin on experience in New York City, the national developer has been behind major projects such as Seaport Circle in Boston and The Star in Frisco, Texas, which is the headquarters for the NFL’s Dallas Cowboys.

The identity of the third finalist was not disclosed.

The redevelopment process for the 161,000-square-foot property kicked off in 2023. Paramount was on the hunt for minority partners to transform the site into as much as 1.1 million square feet of development, contingent on a rezoning. Specific plans for the site remain unclear.

The selection process for the full-block property between 10th and 11th Avenue between West 56th and 57th streets has dragged along for two years. The latest revelation is expected to be part of the final round of that process and the merger approval is expected to ramp up discussions around the property.

Paramount is expected to relocate its studio operations away from the nine-building complex, but hasn’t shared that location yet.

[ChiND]

This is fantastic news. This stretch of 57th is schlocky, but the redevelopment of this very long block will be transformative. The Greatest City in the world keeps getting greater.

[NYguy]

This will most likely come in the form of residential towers.

An overview of the site, which is near other residential developments taking shape...



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[NYguy]

https://www.bisnow.com/new-york/news/con...ith-trump-fallout-merger-deadline-130285

Paramount Picks Finalists For Major CBS Redevelopment





July 24, 2025
Mark F. Bonner

The Gotham Organization and Lincoln Property Co. are two of the contenders vying to redevelop the Hell's Kitchen site, according to multiple sources familiar with the process. A third, unnamed developer is also in contention, according to one of the sources, who declined to disclose the firm's identity.

With the estimated $28B Paramount-Skydance merger still pending regulatory approval, these developers have advanced to the final round of a two-year-long selection process for the full-block property, which spans from 10th to 11th avenues between West 56th and 57th streets.

Recent scrutiny around CBS and Paramount has slowed down the bidding process, according to sources who spoke to Bisnow, but they expect the redevelopment to move forward once the Paramount-Skydance merger is formally approved. It is currently being reviewed by the Federal Communications Commission.

The merger must close by Oct. 6, or either side can walk away, triggering a $400M breakup fee. A delay or collapse could create instability just as the redevelopment project is set to move forward. With the Skydance deal still not finalized, the broadcast center redevelopment plans have remained in a holding pattern.

Paramount tapped CBRE in 2023 to explore joint ventures for the 161K SF site, specifically seeking minority partners who could spearhead as much as 1.1M SF of new development if the site was rezoned, according to a request for qualifications first reported by Bisnow.

Gotham Organization’s selection comes as little surprise.

The Manhattan-based firm has led large-scale mixed-income developments across the city, including Gotham Point in Long Island City, The Suffolk on the Lower East Side and The Maybury at Hudson Yards. Gotham has frequently worked with public agencies and navigated the city’s rezoning process — experience that is explicitly called for in the RFQ.

Lincoln Property Co., on the other hand, is a more unconventional finalist. The Dallas-based developer is known nationally for its life sciences, office and mixed-use developments, such as Seaport Circle in Boston and The Star, a $2B mixed-use development in Frisco, Texas, that is the headquarters of the Dallas Cowboys.

While it has a presence in New York, it has not historically been viewed as a major player in the city’s public-private development arena.

The nine-building campus has been home to CBS News since the 1950s and currently houses productions like The Drew Barrymore Show and Last Week Tonight With John Oliver. Paramount has signaled it intends to relocate its studio operations elsewhere, though no destination has been finalized.

The redevelopment effort comes as Paramount has streamlined its real estate holdings. The company sold its Black Rock headquarters for $760M in 2021 and its CBS Studio Center campus in Los Angeles for $1.8B the same year.

Across the street from the Broadcast Center, Paramount renewed its lease for 186K SF at SL Green’s 555 West 57th St. in 2023 for five years, ensuring its presence in the neighborhood even as it prepares to remake its longtime campus.

https://www.aol.com/paramount-skydance-expect-deal-close-204103536.html

In just under two weeks, Paramount Global will complete its merger with the smaller Skydance Media to form “Paramount Skydance Corp.” — and bring a rollercoaster M&A ride to its conclusion. The FCC cleared the Skydance-Paramount deal Thursday, removing the last regulatory obstacle.