Tech Gian Google To Buy Manhattan Office Building For Over $2.1 Billion

Google has managed to continue to grow its business during the COVID-19 pandemic because people relied on online services more than ever. On the back of this climate, the advertising revenue of Google increased by 69% in 2021.

The campus will be about 1.7 million square feet and house Google’s sales and partnerships teams; it is expected that the St John’s Terminal site will be open to staff by mid-2023.

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CFO Ruth Porat wrote in the blog post which announced the plans, that the building would “serve as the anchor” for the future of work at Google.

As Google moves toward a more flexible hybrid approach to work, coming together in person to collaborate and build community will remain an important part of our future. It is why we continue investing in our offices around the world. Our decision to exercise our option to purchase St. John’s Terminal further builds upon our existing plans to invest more than $250 million this year in our New York campus presence. It is also an important part of meeting our previously announced racial equity commitments, which include continuing to grow our workforce in diverse communities like New York. 

The St. John’s Terminal site at 550 Washington Street, which we currently lease and expect to open by mid-2023, will be one part of the already sizable investment we’ve made in New York — Google’s largest office outside California. We’ve made substantial progress in building out our 1.7 million-square-foot Hudson Square campus that will serve as the New York headquarters for our Global Business Organization, which includes our sales and partnership teams. The St. John’s Terminal transaction will close in the first quarter of 2022

These investments that Google is making in the NYC campus presence will give them the capacity to grow Google workforce in the city to more than 14,000 employees in the coming years, and continuing to be an active part of New York City’s vibrant community.

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