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Google expands in NYC's Chelsea neighborhood with $600M acquisition

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Google expands in NYC's Chelsea neighborhood with $600M acquisition

Google LLC picked up the Milk Building in Manhattan, N.Y.'s Chelsea neighborhood from Atlanta-based Jamestown Properties for an undisclosed amount, Crain's New York Business reported.

According to a May 23 report from London's Financial Times, Google is paying $600 million for the property.

The building at 450 W. 15th St. previously changed hands in January 2013, when the seller purchased it from Stellar Management for more than $284 million, according to a Commercial Observer report from the time of the deal.

The property is connected by a bridge to Chelsea Market, which Google bought from Jamestown in 2018 for $2.4 billion, Crain's added. The Alphabet Inc. unit already owns or rents almost all the real estate assets between W. 15th and W. 16th streets from Eighth Avenue to the middle of the Hudson River on Pier 57, according to the May 22 Crain's report.

The tech giant plans to take up three out of the eight floors at the Milk Building, the publication noted.

Jamestown was represented by Cushman & Wakefield and CBRE represented Google.