Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Google Moving into $1.8 Billion Chelsea Building

Google headquarters 11 8h

Yes, we checked the numbers, they’re true.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

In 2010, Google acquired an 18 story, full city block, red brick building at 111 Eighth Avenue, between 15th and 16th Streets, for $1.8 billion.

It used to be the headquarters of the Port Authority of New York and New Jersey. The building holds a total of 2.9 million square feet of space. That makes it New York City’s third largest office tower in total floor space and much larger than the total size of Google’s main headquarters in California.

The $1.8 billion Google paid for the building was more than the $1.65 billion in stock they paid for YouTube in 2006. But they had a good reason, other than having enough space to finally give God that job interview.

It’s because 111 Eighth Avenue sits on top of a fiber optic highway and its infrastructure is unusually suitable for data centers — say industry analysts.

According to a report in Crain’s, Google is expected to expand into as much as 500, 000 more square feet of office space in its Chelsea building by the beginning of 2015.

Google will transfer staff from nearby offices that it currently rents at 85 10th Ave. and Chelsea Market.

Built in 1932, the office tower went through renovations in 1999 in which its elevators, electrical systems, and security systems were all upgraded.

The building’s other tenants, which include Nike, Barnes & Noble and the ad firm Deutsche Inc., are reportedly being paid by Google not to renew their leases.

The move makes sense financially for Google as rents in the neighborhood have been skyrocketing. 111 Eighth Avenue is valued today at as much as $2 billion. So they got it for a song. It is also more productive for a company to have all of its offices under one roof, rather than spread out over several locations.

Now they’ll get everybody inside, close the door, and only come out after the colonization star fleet is ready to take off.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.