Google Announces Plan To Buy St. John’s Terminal

Share post:

Google plans to buy the St. John’s Terminal building located on the west side of Manhattan for $2.1 billion.

In a press release issued Tuesday, Google said the purchase will be completed in the first quarter of 2022 and the site is expected to open in mid-2023 “as the new NYC headquarters for Google’s Global Business Organization.”

Commenting on Google’s plans, Ruth Porat, Chief Financial Officer of Alphabet and Google, said in a blog post: “New York’s vitality, creativity and world-class talent are what keep us rooted here. It is why we’re announcing today that we are deepening our commitment to New York and intend to purchase the St. John’s Terminal in Manhattan…We look forward to continuing to grow along with this remarkable, diverse city.”

Above all doubt, Google’s recent actions confirm reports that technology companies are taking proactive steps to invest in real estate, and are doing so by taking advantage of lower office building prices in all U.S. cities.

Previously, the world’s largest retailer Amazon had bought the Lord & Taylor building on Fifth Avenue for $978 million, while Facebook had rented the Farley building opposite Madison Square Garden.

As the brokerage CBRE Group reported in January, the tech industry topped the list for leasing activity in Manhattan for the second year in a row.

For more information, read the original story in Reuters.


Related articles

Kaspersky to shut down its US business due to sanctions

Russian cybersecurity firm Kaspersky Lab announced it will cease its U.S. operations starting July 20, following sanctions from...

Intuit lays off 1,800 people amid a shift to AI

Intuit, the company behind QuickBooks, Credit Karma, and TurboTax, is laying off 1,800 employees, which is about 10%...

VMWare revenue drops by $600 million but Broadcom assures investors growth plan is on track

In its first full quarter under Broadcom's ownership, VMware's revenue fell by $600 million, dropping to $2.7 billion....

Apple faces backlash over recent ads

Apple is currently facing significant public backlash due to a controversial advertisement featuring a hydraulic press crushing various...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways