Oct 28, 2010
Google is supposedly close to buying the Class A Office Building 111 Eighth Ave., one of the largest buildings in Manhattan.
It is rumoured that Google will pay close to $2 billion for the building.
111 Eighth Ave. consists of 18 storeys, 2.9 million square feet of space and covers an entire city block – between Eighth and Ninth avenues from 15th and 16th streets. The building was the former Inland Freight Terminal of the Port Authority and is the eighth-largest commercial structure in Manhattan.
The East Coast headquarters of Google moved into the building this year and rents over 550,000 square feet there. 111 Eighth is considered the premier tech, entertainment, fashion, and media center in the city with tenants such as Nike, Barnes & Noble, and WebMD.
Its unconfirmed how far along the acquisition is and there are supposed other bidders on the building besides Google. What we do know for certain is that Google is serious about New York and is eying a major NY real estate purchase.
It seems Google monster doesn’t like being tenant – wants to be landlord.