February 9, 2018 Comments Off on Google’s $2.5B Deal for Chelsea Market, NYC’s 2nd Largest Views: 3961 National News, Top National

Google’s $2.5B Deal for Chelsea Market, NYC’s 2nd Largest

February 9, 2018

Google’s corporate parent, Alphabet, cut a deal to acquire New York’s Chelsea Market for $2.5 billion, which would rank as the second largest ever in NYC. The full-block 1.2-million-square-foot mixed-use asset was assembled from 19 former factory buildings and was sold by Atlanta-based Jamestown.

Located at 75 Ninth Ave. the property includes air rights that would allow the tech giant to expand the property to 1.5 million square feet. The ground floor features a dynamic blend of food shops, restaurants and wholesalers, while upper floors include office space.

Google’s Chelsea Market expansion encompasses roughly 400,000 square feet in the building. Its NY HQ is at 111 Eighth Ave., and it also has digs at 85 Tenth and an option on more than 250,000 square feet at Super Pier 57.

Cushman & Wakefield’s Douglas Harmon represented the seller.

The GM Building $2.8-billion sale in 2007 is the largest NYC deal.