Economy

Report: Google Pays Big Price For Big Building New York

Google is paying $1.9 billion to buy a 2.9-million-square-foot property in New York City's Chelsea neighborhood, according to a report by The Wall Street Journal.

The Journal says the purchase "is the biggest for a single building in the U.S. this year," while also noting that Google — which occupies about 500,000 square feet of space in it — is not the only tenant in its new property:

While the building is located in Manhattan's Chelsea neighborhood—and not one of the city's tony office districts—it is popular with tenants like Nike Inc., the Lifetime cable channel and WebMD, the Web publisher. About one-third of its space is occupied by telecommunication companies.

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