Sunday, November 28, 2021

Google will make the highest-priced purchase since the pandemic for office space in Manhattan

Google is set to buy an office building in Manhattan for $2.1 billion, even as remote work is largely enforced due to the pandemic.

The building is the former High Line terminal. It is currently under construction and is expected to open in mid-2023.

“As Google moves towards a more flexible hybrid approach to working, coming together to collaborate and build community will continue to be an important part of our future. This is why we are investing in our offices around the world. Let’s continue,” said Chief Financial Officer Ruth Porat.

According to the Wall Street Journal report, it is the most expensive purchase of an office building since the start of the pandemic. It is one of the highest priced in US history.

The tech giant was previously leasing space located in the Hudson Square area.

Yug Times Photos
St. John’s Terminal construction site, Manhattan, New York on September 21, 2021. (Enrico Trigoso/The Epoch Times)

Google plans to buy the building, named St. John’s Terminal, in the first quarter of 2022.

“The St. John’s Terminal site at 550 Washington Street, which we currently lease and expect to open by mid-2023, will be part of an already large investment we’ve made in New York—Google’s outside California.” Largest office,” Porat added.

“We have made substantial progress in the construction of our 1.7 million square foot Hudson Square campus that will serve as the New York headquarters for our global business organization, which includes our sales and partnerships teams. St. John’s Terminal Transactions Q1 2022 I will be closed.

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Their workforce is estimated to grow to over 14,000 people.

“New York City is the place for world-class talent, and Google’s acquisition of 550 Washington Street in Manhattan reflects that for its workforce,” said Gail Brewer, president of Manhattan Borough.

As the Wall Street Journal reports, Google’s director of public policy and government affairs said that their employees need to collaborate “to be really happy and productive” and are investing more in office space.

The building was first opened as a freight terminal in 1934 and later closed in 1960, later being converted into a commercial space. It was bought by its current owner, Oxford Properties, in 2018.

The tech giant’s largest workforce outside of California is in New York, where it has about 12,000 employees.

Enrico Trigoso

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Enrico Trigoso is an Epoch Times reporter with a focus on the NYC area.

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This News Originally From – The Epoch Times

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