The National Basketball Players Association has agreed to sell their Harlem digs for $21 million, which represents a tidy profit of roughly $18 million.
The union will move into a swanky new space in Manhattan next year.
The new building is being dubbed as the “Players Campus”.
Per Bloomberg:
Once the sale is completed next year, the organization will relocate to a 47,000-square-foot facility in midtown Manhattan that includes a practice court, locker room, lounge and training facility, the union said. The facility will also be used to host player programs and agent seminars.
The union bought the Harlem building at 310 Lenox around 2007, at which time its value was listed as $3.4 million in a filing with the U.S. Department of Labor. The union’s 2014 labor filing, or LM-2, said the building was worth $19.7 million.
The union’s new headquarters, which Executive Director Michele Roberts has called a “Players Campus,” will be located at 1133 Avenue of the Americas, between 43rd and 44th Streets and near Bryant Park. […] Roberts, a trial lawyer, in 2014 became the first female leader of a major U.S. sports union. She replaced Billy Hunter, a former National Football League player and U.S. attorney who was fired in 2013 following an independent review of union business practices.
