EMI To Sell Famous Capital Records Tower

EMI has entered into an agreement with Argent Ventures, the New York-based commercial property owner and developer, to sell the Capitol Records Tower and adjacent properties to Argent for $50 million.  As part of the agreement, EMI has entered into a long term lease with Argent, which will enable the Capitol Records label and Capitol Studios to continue their operations at these facilities for many years to come.

The record album shaped tower was built in 1956.