Google to Buy Chelsea Market Building for Over $2 Billion: Report

By Reuters
February 7, 2018 Last Updated: February 8, 2018
The Google logo is pictured atop an office building in Irvine, Calif., on Aug. 7, 2017. (REUTERS/Mike Blake/File Photo)

Alphabet’s Google has agreed to pay more than $2 billion for New York City’s Chelsea Market building, the Real Deal reported on Tuesday, citing people familiar with the matter.

Google, already the largest tenant with about 400,000 square feet in the building, is buying the property from Atlanta-based real estate investment firm Jamestown LP, the real estate website reported.

Google’s plans for the building were unclear but it is expected to maintain the status quo at the property’s retail component, according to the report.

Alphabet could not be immediately reached for comment.

The 1.2 million-square-foot office-and-retail property at 75 Ninth Avenue houses a popular food hall and such tenants as Major League Baseball, the New York 1 news channel and the Food Network.

By Shariq Khan