111 Eighth AvenueFrom the July issue: As any theatergoer knows, there’s nothing like a pause in the action to build the dramatic tension.
And that’s exactly what happened when Google — the behemoth technology company based in Mountain View, Calif. — asked for (and quietly received) a several-week break in the active marketing of 111 Eighth Avenue during the second half of November, when it became serious about buying the building.
Google, which was represented by CB Richard Ellis, wanted to make sure that the $1.77 billion (plus millions in additional expenses) it was about to spend on the 2.9 million-square-foot Chelsea office building was a good price.
“That was a very nerve-racking time,” said one insider, about the late-fall marketing pause that came two months after the story broke that the building was for sale for about $2 billion. [more]
Google’s ‘search’ gets a hit
A nerve-racking break in active marketing helps get the Internet giant's record-setting building buy done
July 26, 2011 02:23PM
By Adam Pincus
