Thursday, 13 December, 2018

Google Buying $2 Billion Property In Manhattan, NYC

Google Buying $2 Billion Property In Manhattan, NYC Google Buying $2 Billion Property In Manhattan, NYC
Nellie Chapman | 07 February, 2018, 15:48

Google will shell out more than $2 billion to buy the historic Chelsea Market building, part of an ambitious expansion plan that would link up several properties the company owns or leases in the neighborhood. As originally reported by The Real Deal, the tech company has plans to close the deal in April.

The Chelsea Market building is now home to the food hall that gives it its name, MLB.com, Food Network, and other broadcasting companies. Located at 75 9th Avenue (across the street from Google headquarters), the 1.2 million square foot Chelsea Market Building houses the Food Network, the Major League Baseball (MLB) Network, and the NY 1 News Channel, among other businesses.

Jamestown bought the property in its entirety in 2011, when it was valued at roughly $800 million. Currently, the building holds a well-known food market, as well as some Google properties, including its Jigsaw offices. It's unclear what Google will try to do if the purchase goes through-especially since the Chelsea Market building is already nearly fully occupied.

In 2010, Google purchased massive office space across the street from Chelsea Market for $1.9 billion and constructed an overhead walkway connecting the two buildings.