BGR has learned that Sony Electronics (SNE) is making plans to sell the company’s famed 550 Madison location in New York in order to raise money, according to a close source of ours. An internal email was sent to Sony executives detailing the plans recently, and Sony is currently considering a few different scenarios. We are told the selling price of the building will be in the $1.5 billion to $2 billion range. Sony Electronics is now making plans to sell the building and potentially lease back space for it’s various business units like Sony Electronics, Sony Music, and others, or completely move to another location entirely. Sony is coming off of four straight annual losses, and is “very mindful” of its cash position.

Jonathan Geller is the founder of Boy Genius Report, now known as BGR, and one of the biggest tech & mobile destinations in the world. BGR was acquired by leading digital media company PMC in April 2010 and Jonathan is President and Editor-in-chief of BGR Media, LLC. Jonathan was named to Forbes' coveted 30 under 30 list in 2016, and frequently appears as a commentator on news channels such as CNBC, Fox News, ABC News and Bloomberg.