Google paid WebMD undisclosed sum to vacate digs

Search giant looking to expand its dominion at 111 Eighth Ave.
March 04, 2015 08:30AM

Google paid WebMD an undisclosed sum of money to move out of its headquarters at 111 Eighth Avenue.

WebMD is moving to 395 Hudson Street, as first reported by The Real Deal, where it is subletting from Kaplan Test Prep and will occupy 150,000 square feet, according to Crain’s. In turn, Kaplan is relocating to 750 Third Avenue.

Kaplan sweetened the pot for the medical website, providing money upfront to help pay for construction of a brand new office, according to Crain’s. Kaplan will earn that money back by charging higher rent — in the $50s per square foot — than the original asking price.

Google has been annexing other tenants’ space at its massive Chelsea headquarters. It had tried to buy out Nike’s lease at the building, but is now waiting for it to expire. Meanwhile, Nike is looking for about 100,000 square feet in Midtown South, according to the New York Post. [Crain’s] and [NYP, 2nd] — Claire Moses