Google to buy NYC's Chelsea Market for Over $2 Billion USD
That Google money…
Tech giant Google is looking to add another building to its fixed-asset portfolio: the Chelsea Market building. The new space, located in Lower Manhattan, New York, is expected to be acquired for over $2 billion USD, a number that isn’t that surprising when considering Google already leases 400,000 of the 1,200,000 square-foot building.
The deal will roughly translate to approximately $1,600 USD per square-foot, and does not seem too much of a stretch since its downtown HQ was acquired for $1.77 billion dollars in 2010. All signs point to growth as this new purchase will be walking distance to Google’s Manhattan main office, but you can trust that this push for a focus in the Big Apple will not go unnoticed by other tech heavyweights.
Speaking of tech companies moving offices, Facebook is set to open a new London headquarters Next to Google’s $1.3 Billion USD campus.
- The Real Deal