Netflix's Seinfeld Lot Deal May Close Later, 'Or Not,' Its Landlord Says

Netflix says its purchase of Studio City's Radford Studio Center, estimated at $330 million to more than $400 million, remains on schedule.

Netflix won't decide to close its purchase of Radford Studio Center until "sometime maybe later in the year," the streamer's landlord told investors on Thursday, Deadline reported. Then Hudson Pacific Properties CEO Victor Coleman added two more words, which Deadline and The Hollywood Reporter both quoted: "Or not."

Netflix's side says nothing has slipped. The purchase is tracking the schedule and the milestones both sides agreed to, a Netflix spokesperson told TheWrap. A source close to the talks gave Deadline the same words, and Deadline reported that the purchase is coming together on schedule.

The Hollywood Reporter added a detail the timetable talk doesn't mention. It learned that Netflix's first 90-day window to inspect the property had been extended. Its source warned that the extension doesn't necessarily mean the deal won't close, and said people in Hollywood real estate expect it to get done.

The prize is a 55-acre lot in Studio City, 98 years old, where Seinfeld, Gunsmoke and The Mary Tyler Moore Show were shot. Hackman Capital Partners paid ViacomCBS $1.85 billion for it in 2021. A Goldman Sachs-led group took the lot over after Hackman's default on $1.1 billion in debt in the first months of 2026, then opened talks with Netflix in April, Deadline reported.

The Hollywood Reporter puts the price at $330 million to $400 million, while Deadline says it's north of $400 million. Either way, a famous lot is selling for something like a fifth of what it fetched five years ago.

Radford wasn't Netflix's first choice of lot. Deadline noted that the streamer lost the Warner Bros. lot in Burbank to David Ellison earlier this year, and that its executives have long wanted a full-service L.A. home for offices and production. It already owns a 108-acre campus in Albuquerque and is building a New Jersey studio at Fort Monmouth for more than $1 billion. In Los Angeles, it rents, mostly from Coleman.

That makes Coleman more than a bystander. Netflix is Hudson Pacific's third-biggest tenant, with more than 700,000 square feet across the ICON, EPIC and CUE buildings at Sunset Studios on leases that run to 2031, The Hollywood Reporter reported. On the call, Coleman said Radford doesn't fit Netflix's office needs and that talks about extending past 2031 were heading somewhere he's comfortable with.

Hudson Pacific has its own big number riding on that. Chief financial officer Harout Diramerian told investors on the same call that the company and its partner had pushed the $1.1 billion loan on their Hollywood studio and office portfolio out to November 2027. According to The Hollywood Reporter, Hudson Pacific's executives tied any longer-term fix for that loan to first knowing what Netflix plans to do. That's the same size as the loan Hackman defaulted on at Radford.

Netflix is also weighing a tough market. Coleman told investors that on-location shoot days in L.A. in the third quarter ran 29% below the five-year average. The Hollywood Reporter noted that borrowing costs have risen since April, and that Netflix has shown interest in renting at Echelon, a $450 million studio on Santa Monica Boulevard, just over a mile west of EPIC.

Netflix also hasn't made any required filings with the SEC or Los Angeles County for Radford, Deadline reported. An L.A. real estate insider told Deadline, "They haven't signed on the dotted line, that will all likely happen later this year." Every side now names the same window. Coleman's version is the only one with a way out.

Source: Deadline, retrieved November 7, 2026. Other sources: The Hollywood Reporter, TheWrap, finance.yahoo.com.