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Sony Corp., which has been struggling to rebound from a record loss, is weighing options for its iconic Midtown skyscraper, including its potential sale. Sources claim the Japanese electronics giant recently held talks with private-equity firm Blackstone Group and its real-estate agents, Newmark Grubb Knight Frank, about a potential real-estate transaction involving 550 Madison Avenue . According to the New York Post, while those talks ended without a deal, Sony is said to be considering all options for the 37-story tower that houses its US headquarters, which include consolidating in less space and leasing the remainder, selling the building and then leasing back a portion, or selling it outright and moving to another location. Although, Sony executives did a walk-through at a 479,008-square-feet space in the Blackstone-owned former New York Times building in Times Square , the refurbished space could include naming rights. There are also 25,000 square feet of roof decks and terraces on six floors. The Sony Building , formerly the AT&T Building , is worth between 700 million dollars and 1 billion dollar, according to sources familiar with the structure. "It's a big asset on their balance sheet," said one real-estate executive who declined to be identified. A Sony spokesman declined to comment on the matter.

Sony Corp. mulling sale of 550 Madison Ave. HQ following record losses