646-312-6800 grace@gegrace.com

Google is buying the St. John’s terminal building for $2.1 billion which is expected to close in early 2022. The property, on West Houston Street, is across West Street from the Hudson River. This is the largest real estate purchase New York has seen since the pandemic.

This demonstrates Google’s commitment to a New York office in spite of the working from home trend. Google is planning to hire 2,000 more employees to work in the building. This is expected to help local businesses and residential real estate values.

Kastle Systems, which tracks card swipes at office buildings has reported NYC office occupancy is up from 19.5% last week to 28.1% a huge move, but still anemic.

Now is a great time to see space. Contact GE Grace at 646 312 6800 or email Grace@GEGrace.com.