Google Shells Out $1.9 Billion for NYC Office Space

Google (Nasdaq: GOOG  ) on Wednesday said it has bought an 18-storey building in New York to accommodate its 2,000-plus-strong workforce in the world's financial capital.

Details regarding the buying price were not disclosed. However, the New York Post put the cost at $1.77 billion and said the final price, including transfer taxes and other fees, could go up to $1.9 billion for the building at 111 Eighth Ave. in the Chelsea neighborhood.

"Google New York started in a Starbucks on 86th Street with one person in 2000 -- a scrappy, highly caffeinated sales 'team,'" said David Radcliffe, vice president for real estate and workplace services, in a blog post.Description: http://img.ibtimes.com/www/site/us/images/1px.gif "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."

Radcliffe said the company was glad to close a deal with the partnership of Taconic Investment Partners, Jamestown Properties and the New York State Common Retirement Fund to buy the building. "We believe that this is a great real estate investment in a thriving neighborhood and a fantastic city," he was quoted as saying.

The Art Deco building has "numerous back-up generators, lots of electrical power, antennas, fiber optics, and high-tech facilities available to tenants," the Post reported.

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International Business Times, The Global Business News Leader

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