Pfizer to seek more modern Manhattan headquarters
Pfizer Inc (PFE.N), the largest U.S. drugmaker, said on Thursday it aims to sell its New York City world headquarters buildings in midtown Manhattan by the end of 2017 and to begin moving into more modern Manhattan facilities no sooner than the first half of 2019.
“This move is being driven by the significant investment that would be required to bring the (existing) buildings to modern standards,” Pfizer said, adding it had notified employees of the plans on Wednesday.
Pfizer’s current headquarters includes buildings on East 42nd Street having about 1 million square feet of space. A newer complex would foster greater collaboration and innovation, said company spokeswoman Joan Campion.