11–20 of 257 posts
$1600/ft seems shockingly high for commercial real estate, even in New York. Just because you have lots of money (that theoretically belongs to your shareholders) doesn’t mean you should overpay.
Google NYC is literally right across the block from Chelsea Market. This transaction would mean that Google will occupy the real estate above the actual market. Chelsea Market is an amazing place with great offerings of food etc. As long as this transaction does not ruin the ecosystem of CM then New Yorkers are OK with this transaction. Lets face it who would not want to sell their real estate to The Google?
There are other office occupants though, and it sounds like Google's going to squeeze them out. So the food offerings might stay, but it's going to begin to feel like a Google cafeteria.
Excellent. instead of hiring some poor chaps to remove some of the spam, lets give more money to the poor chap who owns whatever building.
Google has largely ruined Boulder, CO after building a huge new sprawling thing and effectively dictating to locals and politicians exactly how they want the neighborhood and city to be structured going forward. Everyone who isn't a googler hates them and wishes we hadn't allowed that, much less given them massive amounts of corporate welfare. Resist googlers if you can, they destroy communities.
$1600/ft seems shockingly high for commercial real estate, even in New York. Just because you have lots of money (that theoretically belongs to your shareholders) doesn’t mean you should overpay.
> Data analyzed by COMMERCIALCafé shows a steady rise in the average yearly sale price per square foot, starting at 2012’s $959. The price increased by 40% over 5 years, resting at $1,347 in 2016. The Y-o-Y increase was 7%. Midtown remains the highest priced NYC submarket. Last year, 50 office properties were sold at an average price of $1,531 per square foot.
Earlier quoted context omitted.
There are other office occupants though, and it sounds like Google's going to squeeze them out. So the food offerings might stay, but it's going to begin to feel like a Google cafeteria.
Do the businesses in Chelsea Market rely heavily on traffic from the office-workers above? Store-fronts in NYC tend to be pretty disconnected from the office/residential spaces above, with a few notable exceptions.
Google NYC is literally right across the block from Chelsea Market. This transaction would mean that Google will occupy the real estate above the actual market. Chelsea Market is an amazing place with great offerings of food etc. As long as this transaction does not ruin the ecosystem of CM then New Yorkers are OK with this transaction. Lets face it who would not want to sell their real estate to The Google?
There are other office occupants though, and it sounds like Google's going to squeeze them out. So the food offerings might stay, but it's going to begin to feel like a Google cafeteria.
Google NYC is literally right across the block from Chelsea Market. This transaction would mean that Google will occupy the real estate above the actual market. Chelsea Market is an amazing place with great offerings of food etc. As long as this transaction does not ruin the ecosystem of CM then New Yorkers are OK with this transaction. Lets face it who would not want to sell their real estate to The Google?
There are other office occupants though, and it sounds like Google's going to squeeze them out. So the food offerings might stay, but it's going to begin to feel like a Google cafeteria.
Earlier quoted context omitted.
There are other office occupants though, and it sounds like Google's going to squeeze them out. So the food offerings might stay, but it's going to begin to feel like a Google cafeteria.
Do the businesses in Chelsea Market rely heavily on traffic from the office-workers above? Store-fronts in NYC tend to be pretty disconnected from the office/residential spaces above, with a few notable exceptions.