VENTOR SELLING WOOLWORTH BUILDING
NEW YORK — Venator Group said Monday it would sell the landmark Woolworth Building, once the tallest in the U.S., to The Witkoff Group.
Venator will maintain its headquarters in the building, which is at 233 Broadway, across from City Hall.
Witkoff is a privately held real estate developer, based here. Woolworth Group changed its name to Venator June 12.
Terms of the deal were not disclosed, and Venator officials declined comment on published speculation that the building fetched $150 million.
However, a source familiar with the matter said that figure was “within reason.”
While keeping its headquarters in the Woolworth Building, Venator — a $6.6 billion retailer in the throes of a massive, four-year turnaround effort — plans to relocate some operating units now based there, said Juris Pagrabs, vice president of investor relations.
The moves under consideration, Pagrabs said, include relocating the Afterthoughts jewelry stores unit and the Kinney Shoe division to Venator offices at 120 West 34th Street
Another change being considered is moving the Foot Locker unit to New Jersey.