, Tue, September 21, 2021
Renderings courtesy of COOKFOX Architects
Google will buy the Manhattan office building it currently leases for $2.1 billion next year. The tech giant announced on Tuesday plans to purchase St. John’s Terminal at 550 Washington Street in Hudson Square during the first quarter of 2022. Google already leases the former freight terminal, which is currently undergoing a major renovation and addition as part of the company’s new 1.7 million-square-foot campus in the neighborhood. As the Wall Street Journal first reported, the deal marks the priciest sale of a single office building in the United States since the start of the pandemic, as well as one of the most expensive ever recorded.
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Rendering courtesy of Google
This summer, New Yorkers will be able to head over to a storefront in Chelsea to buy Fitbits, Pixel phones, and Nest products. Google announced that it will be opening its first-ever physical retail store at the former Port Authority building at 15th Street and 9th Avenue. The company bought the building in 2010 for $1.9 billion, later expanding its Chelsea “campus” with the $2.4 billion purchase of Chelsea Market and a deal to lease space at the new Pier 57. “Google has been in New York for the last 20 years, and we view the store as a natural extension of our longtime commitment to the city,” the company said in a blog post.
Rendering of 550 Washington Street via COOKFOX
Construction has officially kicked off at Google’s massive new campus in Hudson Square. The tech company plans to open office space across three properties 315 Hudson Street, 345 Hudson Street, and 550 Washington Street, which formerly served as a freight terminal. The project involves a gut renovation of the terminal building and an addition of eight new floors. As CityRealty reported Tuesday, the northern sections of the St. John’s Terminal building are now demolished.
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The building at 450 West 15th Street is connected to Chelsea Market via a bridge; photo via Wikimedia
Google on Wednesday picked up a 325,000-square-foot building in Chelsea, adding to its ever-growing footprint in the Manhattan neighborhood. According to the Financial Times, the company bought the building at 450 West 15th Street from Jamestown Properties for $600 million. In addition to its headquarters at 111 Eighth Avenue, Google owns the apartment buildings across the street and the Chelsea Market building, which it bought last year for $2.5 billion. And the company will serve as the primary tenant at Pier 57, a mixed-use development on the Hudson River.
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Google will invest $1 billion to open 1.7 million square feet of office space in Hudson Square, the company announced on Monday. The new campus includes property at 315 and 345 Hudson Street and will also be centered around 550 Washington Street, the former freight terminal, St. John’s Terminal. With this expansion from its Chelsea offices at 111 Eighth Avenue, Google said its workforce will double over the next 10 years, adding another 7,000 New York-based staff members.
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First reported by CityRealty, Oxford Properties Group filed a building permit application yesterday to construct a 588,000-square-foot commercial addition to the St. John’s Terminal building in Hudson Square, a property they acquired in January. As 6sqft previously reported, architecture firm COOKFOX will helm the conversion and it is expected that Google will buy or lease the building, which is projected to be finished in 2022. If Google sticks to this plan — in addition to their forthcoming expansions at Pier 57 and Chelsea Market — the tech giant would double their employee force in the area to roughly 20,000. (This announcement follows that of Amazon’s impending expansion at a similar scale in Long Island City.)
Rendering via COOKFOX
Google is expanding its New York City footprint once again. The tech giant is close to inking a deal to buy or lease a planned 1.3 million-square-foot office building at St. John’s Terminal, formerly a freight terminal in Hudson Square, that is undergoing a major revamp by COOKFOX Architects. According to the Wall Street Journal, the building, located at 550 Washington Street, could house more than 8,500 Google employees when the project wraps up in 2022. News of this impending deal comes just days after it was reported that Amazon will move its second headquarters, along with 25,000 workers, to Long Island City, although no plan has formally been announced. More details here
Renderings via RXR Realty
The transformation of Pier 57 from a former maritime port and bus garage into a modern mixed-use development is fully underway. A flyover video of the site uncovered by CityRealty last week shows off its planned 80,000-square-foot outdoor rooftop park, which claims to be the largest public outdoor space in Chelsea. Led by RXR Realty and Youngwoo & Associates, the $380 million project will bring 265,000 square feet of office space, with Google as the primary tenant.
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102-116 Eighth Avenue; via Brodsky Organization
Real estate investors Dalan Management Associates and Elion Partners announced a joint venture on Tuesday to acquire eight adjacent buildings in Chelsea for $83 million. The buildings, which run along Eighth Avenue from West 15th to West 16th Streets, contain 102 multi-family units and 10 ground-floor retail spaces known as the Chelsea Collection. Because the property sits directly across from Google headquarters, developers hope to attract workers from the tech giant, Crain’s reported.
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Photo courtesy of Jamestown
Jamestown, the real estate investment company that just closed on the $2.4 billion sale of the 1.2 million-square-foot Chelsea Market building to Google yesterday, is getting in on the corporate game. The developer will continue to manage Chelsea Market and, according to the Wall Street Journal, they maintained the branding rights and intellectual property connected to the Chelsea Market name outside of Manhattan. The article reports that Jamestown is already scoping out “emerging neighborhoods” throughout the U.S. and Europe and hopes to announce one to two new locations for their new concept before the end of the year. Phillips told the Journal, “The concept travels…Our intention is to create this community of buildings.”
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