The Real Deal New York

Google scraps plans for Soho retail store

Tech giant asking $450 a foot for 131 Greene St. space

November 02, 2015 04:00PM

131 Greene Street (inset: Google's New York headquarters at 111 Eighth Avenue)

131 Greene Street in Soho (inset: Google’s New York headquarters at 111 Eighth Avenue)

Google has ditched plans to open its first retail store in New York City.

The tech giant is subleasing its 5,442-square-foot space at 131 Greene Street, which it leased last year.  Sinvin Real Estate is marketing the ground-floor retail space, Crain’s reported, which will cost $2.25 million in annual rent — roughly $450 per square foot.

The move comes after Google pumped $6 million into renovating the space, which included restoring the building’s exterior and bringing the entryway to street level. The location was pegged for one of Google’s first standalone retail store in the U.S., where it was expected to sell Chromebooks, laptops, Android smartphones and other electronics.

The company’s plans for retail stores remains unclear, though it opened its first store in London earlier this year. Google purchased its New York headquarters at 111 Eighth Avenue in 2010. [Crain’s]Kathryn Brenzel