Google’s next big revenue model? New York City landlord. The search engine just posted on its own blog that it has today sealed the over $ 1.8 million dollar deal to purchase 111 Eighth Avenue in Chelsea, where it already occupies 550,000 square feet. As part of the deal, Google will be leasing out the building to continuing and new tenants.“Today, we’re pleased to announce that we’ve closed a deal with the partnership of Taconic Investment Partners, Jamestown Properties and the New York State Common Retirement Fund to purchase 111 Eighth Avenue (also known as 76 Ninth Avenue). As
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Google’s next big revenue model? New York City landlord. The search engine just posted on its own blog that it has today sealed the over $ 1.8 million dollar deal to purchase 111 Eighth Avenue in Chelsea, where it already occupies 550,000 square feet. As part of the deal, Google will be leasing out the building to continuing and new tenants.“Today, we’re pleased to announce that we’ve closed a deal with the partnership of Taconic Investment Partners, Jamestown Properties and the New York State Common Retirement Fund to purchase 111 Eighth Avenue (also known as 76 Ninth Avenue). As part of the deal, we’ve retained Taconic Management Company to continue the leasing oversight services and management of the building on our behalf, providing the same level of customer service the building’s tenants have come to expect. We believe that this is a great real estate investment in a thriving neighborhood and a fantastic city.”
The company also reports that over 2000 Googlers currently work in the building and that the company plans on hiring more to fill up the massive space — At 2.9 million square feet, 111 Chelsea is New York City’s fourth largest office building.
Image: DataCenterKnowlege
NYC, Startups, Clippings & Musings
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Google is close to paying ~ billion for the building it’s currently renting in the Chelsea neighborhood of New York City, the New York Post reports.
(We toured the office last year, camera in tow, click here to check out Google’s New York offices.)
The Chelsea building is one of the biggest in the city, covering an entire city block between 8th and 9th avenue and 15th and 16th streets. It is 2.9 million square feet large. Google occupies around 550,000 square feet of the building today.
Google would be paying 0 per square foot, which
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Google is close to paying ~ billion for the building it’s currently renting in the Chelsea neighborhood of New York City, the New York Post reports.
(We toured the office last year, camera in tow, click here to check out Google’s New York offices.)
The Chelsea building is one of the biggest in the city, covering an entire city block between 8th and 9th avenue and 15th and 16th streets. It is 2.9 million square feet large. Google occupies around 550,000 square feet of the building today.
Google would be paying 0 per square foot, which the Post calls “very respectable” for 2010. In 2007, it would have been closer to ,500.
The Post warns the deal could still fall apart.
NYC, Startups, Clippings & Musings
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The post Google Close To Paying $2 Billion For Its NYC Headquarters appeared first on NY French Geek.
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