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Google parent company Alphabet announces $1 billion NYC real-estate expansion

Google-parent-co.-Alphabet-announces-1-billion-NYC-real-estate-expansion

The parent company of the software juggernaut stated that it was investing over $1bn in capital improvements to establish a campus in New York City

In a blog post, Alphabet and Google CFO Ruth Porat wrote that it is leasing large office buildings in Manhattan’s West Village neighbourhood, the centrepiece of a campus more than 1.7mn sq ft large.

After the expansion, the company will become one of the city’s largest commercial tenants and add thousands of jobs in the next years, according to The Wall Street Journal. 

The new campus, which should be operational in 2020, will be known as Google Hudson Square and “will be the primary location for our New York-based Global Business Organization,” Porat wrote. 

“New York City continues to be a great source of diverse, world-class talent — that’s what brought Google to the city in 2000 and that’s what keeps us here,” she said. 

The company currently employs some 7,000 people in New York. 

Earlier in the year Alphabet said it was buying the Manhattan Chelsea Market for $2.4bn, and planned to lease space at Pier 57. 

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