Who says real estate isn't booming? It is if you're Taconic Investment
Partners, Jamestown Properties and the New York State Common Retirement
Fund. Google has just announced that they've purchased the former Port
Authority Building at 111 Eighth Avenue, at a cost of $1.9 billion.
That's a huge, huge amount of money, and it's clear that "Investing in
New York" is exactly what Google is doing. Of course, Google
tremendously since it was founded. They're so much more than a search
engine today. They have Chrome
, Chrome OS, Android
, Google TV, and tons
The building has a helicopter landing pad on top, and of course, the
Internet service there is likely the best in all of NYC. Google's
clearly ramping up efforts in the NY area, with already 2000 employees
in the area and more to come on soon. The New York office will be home
to Googlers from more than 35 countries who speak more than 40
languages, and only time will tell what Google intends to do with the
new space. Something tells us it'll be impressive, regardless.
Investing in New York
Google New York started in a Starbucks on 86th Street with one person in 2000—a scrappy, highly-caffeinated sales “team.” After moving to a larger office in Times Square, in 2006 we relocated to our current home in Chelsea, at 111 Eighth Avenue—a former Port Authority building. In June of 2008, we took additional space in the Chelsea Market building at 75 Ninth Avenue. Now we have more than 2,000 Googlers working on a variety of projects in both sales and engineering—and we’re hiring across the board.
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.
Like the city, our New York office is a melting pot of cultures and ideas—it’s home to Googlers from more than 35 countries who speak more than 40 languages. They live in the five boroughs and spread across the tri-state area. We’re excited to continue to build our presence there.