Google is buying Chelsea Market building for over $2B

Post by CydeWeys » Thu, Feb 08, 2018, 8:27 PM UTC

SFLemonade wrote: post #77

Between this $2B deal and the $5B Apple Park deal, I start to wonder how companies are justifying these purchases as remote and distributed work becomes more feasible. They're probably focused on the fact that productivity is still higher in co-located settings and the best talent pools are in major metro areas. But what if, instead, they invested $500M in remote work research and $500M in building a remote work infr…

Post by CydeWeys » Thu, Feb 08, 2018, 8:30 PM UTC

xyzzyz wrote: post #107

CydeWeys wrote: post #88

Earlier quoted context omitted.

Chelsea Market is 1.2 million sqft. 111 8th Ave is 2.9 million sqft, and the fourth largest building by floor area in all of NYC. Not only is Chelsea Market much shorter on average than 111 8th Ave, its land area is smaller as well. The buildings themselves are also older and less modern, thus worth less. 111 8th Ave is an absolute tank of a building. We got an excellent post-recession deal on 111 8th Ave. Chelsea Ma…

Additionally, unlike other buildings in NYC with similar floor space, 111 8th Ave is not a skyscraper, which makes it more practical and useful, and much cheaper in maintenance.

Post by gowld » Thu, Feb 08, 2018, 8:40 PM UTC

fancyfacebook wrote: post #2

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.

Post by pbhjpbhj » Thu, Feb 08, 2018, 8:52 PM UTC

tomcam wrote: post #113

metalliqaz wrote: post #105

Earlier quoted context omitted.

What do you mean by "Google is taking themselves off the market as a tenant"?

Instead of renting office space they're making huge real estate purchases.

Post by cmrdporcupine » Thu, Feb 08, 2018, 9:02 PM UTC

52-6F-62 wrote: post #31

djtriptych wrote: post #19

Earlier quoted context omitted.

Google employees already eat for free at 5-6 internal restaurants within the Google office space. I used to work at Google NYC and would occasionally eat at a nice Thai spot in Chelsea Market but most of the time I'd just take the free lunch.

If the food is at least as good as Google Waterloo (alas, I was only visiting.), then holy hell—I don't blame you. Coming from a more traditional office (with a gradually updating for-pay cafeteria) I could hardly believe it. It was really great food with an active policy of reducing waste (with published counts).