Google Injects $1.8 Billion Into the Real Estate Market

Wednesday, Dec 22, 2010  |  Updated 4:30 PM PDT
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Google Injects $1.8 Billion Into the Real Estate Market

Google

Google's new building in New York.

Google has bought a New York office building where more than 2,000 of its employees work.
     
The Internet search leader confirmed the purchase Wednesday, three weeks after The New York Times reported Google Inc. would pay $1.8 billion for a 15-story building that spans an entire city block.

The Mountain View-based company didn't disclose how much it paid for the office. The company moved into the former Port Authority building in 2006. It has become the second largest concentration of Google employees, ranking behind the company's Mountain View headquarters.

Engineers and advertising representatives primarily work at the New York office, located at 111 Eighth Ave. With about 2.9 million square feet, the office has more space than the Empire State building.

Google says it plans to add more workers in the office.
 

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