Sony Selling U.S. Headquarters In NYC For $1.1B

In a sign of its declining fortunes as the consumer electronics industry has grown up, Sony, once the world’s dominant maker of personal devices like its popular “Walkman” line, announced on Thursday evening it will be selling its United States headquarters office building at 550 Madison Avenue, New York City, for a cool $1.1 billion, and will be leasing space back from its new owners, a consortium led by The Chetrit Group, as Engadget reported. The deal closes in March.