The site was originally a bustling city centre in the early 20th century. Most of the buildings were destroyed or damaged during World War II. From 1961 on, most of the area became part of the No Man's Land of the Berlin Wall, resulting in the destruction of the remaining buildings. After the fall of the Berlin Wall on 9 November 1989, the square became the focus of attention again, as a large (some 60 hectares), attractive location which had suddenly become available in the centre of a major European capital city. As part of a redevelopment effort for the area, the center was constructed. The centre was designed by Helmut Jahn and construction was completed in 2000 at a total cost of €750M. In February 2008 Sony sold Berlin's Sony Center for less than €600M to a group of German and US investment funds, including investment bank Morgan Stanley, Corpus Sireo and an affiliate of The John Buck Company
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