Is Google about to open its first real NYC store in Soho?

Internet giant declines termination option at 131 Greene Street

TRD New York /
Sep.September 19, 2018 05:30 PM

131 Greene Street (Credit: Agorafy)

Google could open its first long-term store in New York City. Really.

The retail space of 131 Greene Street

The company declined to use an option to terminate its retail lease at 131 Greene Street, Crain’s reported, which indicates that it plans to use it.

Google leased the 5,442-square-foot space in 2014 but kept it vacant and initially listed it for sublease. Now, after declining its termination option, the company is committed to paying $2 million in rent per year until 2024.

Google has operated pop-up stores in the city, but 131 Greene would be its first location under a long-term deal. Other internet giants like Apple and Amazon operate several stores in New York. https://therealdeal.com/2017/07/10/heres-where-amazon-is-planning-to-open-its-second-nyc-bookstore/

Earlier this year, Google’s parent company Alphabet bought the Chelsea Market building for $2.4 billion. The Real Deal reported the transaction, the second biggest in city history, was done entirely with cash. [Crain’s] — Konrad Putzier


Related Articles

arrow_forward_ios
Meet Google’s partner on its monster real estate plan for the Bay area

Meet Google’s partner on its monster real estate plan for the Bay area

MAP: Everywhere Google owns property in America

MAP: Everywhere Google owns property in America

From left: Jamestown’s Michael Phillips with the Milk Building at 450 West 15th Street and Google’s Sundar Pichai with the Chelsea Market building at 75 Ninth Avenue (Credit: Google Maps; Phillips via CoStar; and Pichai via Getty)

Google scoops up another Jamestown property in Chelsea for $600M

National Cheat Sheet: Blackstone Group plans to become a corporation, NAR hit with new antitrust suit  … & more

National Cheat Sheet: Blackstone Group plans to become a corporation, NAR hit with new antitrust suit … & more

National Cheat Sheet: SoftBank mulls $15B addition to Vision Fund, Compass buys Stribling… & more

National Cheat Sheet: SoftBank mulls $15B addition to Vision Fund, Compass buys Stribling… & more

Alphabet could use Hudson Yards as template to finance Toronto megaproject

Alphabet could use Hudson Yards as template to finance Toronto megaproject

National Cheat Sheet: Amazon dumps NYC, Google plans $13B real estate investment, Sears survives… & more

National Cheat Sheet: Amazon dumps NYC, Google plans $13B real estate investment, Sears survives… & more

Hudson Pacific earnings fall 50% in Q4 but CEO bullish about year ahead

Hudson Pacific earnings fall 50% in Q4 but CEO bullish about year ahead

arrow_forward_ios