WarnerMedia is planning to sell its new offices at 30 Hudson Yards that could fetch more than $2 billion, making it a tidy profit.
The media giant that owns HBO, CNN and Warner Bros. is looking for a long-term leaseback arrangement that takes the real estate off its balance sheet and reduces debt, sources told The Post.
The eventual buyer, in turn, would earn a steady stream of lease payments from WarnerMedia, whose name will still be on the building.
Douglas Harmon and Adam Spies of Cushman & Wakefield are marketing the assignment for the company, previously known as Time Warner. It has yet to take occupancy in the nearly complete tower that at 1,296 feet will be the tallest in Hudson Yards and includes an outdoor observation deck that may also be owned as a condominium.
The news was first reported by the Wall Street Journal.
The Warner office condo includes more than 1.4 million square feet on floors 16 through 51 and represents approximately 60 percent of the 90-story tower with 2.6 million square feet.
A separate office condo will be owned by the financial firm KKR, and another will have tenants including Wells Fargo, as well as Oxford Properties and Related Companies, the developers of the Hudson Yards building.
Kohn Pedersen & Fox designed the building that is nearing tenant move-ins.
The Post has learned the WarnerMedia portion includes the exclusive use of a terrace on the 22nd floor Sky Lobby and an additional mechanical terrace on the 61st floor for items such as antennas.
The company also has rights to parking spaces and broadcast storage.
The media conglomerate that was finally merged with AT&T in June 2018 now needs to reduce its debt load. At that time, AT&T valued the asset with the city at more than $1.4 billion.
In 2014, Time Warner agreed to buy a portion of the new tower as part of an anchor tenant arrangement with Related and Oxford.
The media company similarly purchased its current offices at 60 Columbus Ave. — the current Time Warner Center — for $520 million when it committed to become Related’s anchor tenant in the then-proposed development.
When it bought into Hudson Yards, it was paid $1.31 billion by Related along with investors the Abu Dhabi Investment Authority and GIC — the Government of Singapore — which purchased back its 1.2 million-square-foot offices at Columbus Circle that includes a series of television studios.
The next occupant of what is still known as the Time Warner Center, Deutsche Bank, is leasing all its space and the mixed-use project will take on that financial firm’s name, as The Post reported.
On Monday, Cushman & Wakefield declined comment on the trophy offering that will likely attract investors from around the world.
