2 ms·
I'm not sure that calculus is correct as Google bought all 3 of the buildings they have in Chelsea in NYC. The most famous of which is the old Port Authority wh
by bogomipz 5y ago
I'm not sure that calculus is correct as Google bought all 3 of the buildings they have in Chelsea in NYC. The most famous of which is the old Port Authority which is 3 million square feet and takes up an entire city block.[1][2][3] I'm not sure they're saving anything with empty office space. They kicked all previous non-Google tenants years ago. Further there is now a current glut of NYC office space with a vacancy rate of almost 19%.[4]
[1]https://www.wired.com/2010/12/google-nyc/ https://www.wired.com/2010/12/google-nyc/
[2] https://techcrunch.com/2018/03/20/google-bought-manhattans-chelsea-market-building-for-2-4-billion/ https://techcrunch.com/2018/03/20/google-bought-manhattans-c...
[3] https://therealdeal.com/2019/05/22/google-scoops-up-another-jamestown-property-in-chelsea/ https://therealdeal.com/2019/05/22/google-scoops-up-another-...
[4] https://www.nytimes.com/2021/07/01/nyregion/manhattan-vacant-office-space-real-estate.html https://www.nytimes.com/2021/07/01/nyregion/manhattan-vacant...