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New York

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

Internet giant declines termination option at 131 Greene Street

131 Greene Street (Credit: Agorafy)
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.

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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

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