Google has renewed its lease for 300,000 square feet at 85 Tenth Avenue, a property jointly owned by Vornado Realty Trust and Related Companies. The asking rent was $100 per foot.
The 11-story red brick building, built as a warehouse in 1913, is more than 635,000 square feet and is across from Google-owned Chelsea Market at 75 10th Avenue, which in turn is across from Google’s 111 Eighth Avenue, which extends to Ninth Avenue.
Google also has space across the West Side Highway at Pier 57. Its new headquarters at 550 Washington Street is 1 mile south.
Google was represented in the eight-year deal by a CBRE team of David Hollander and Ken Rapp while the joint venture ownership of 85 Tenth was represented in-house by Glen Weiss of Vornado and Stephen Winter of Related.
Other tenants include Shopify, which leased 36,000 square feet last year at a rent reported at above $100 per foot, and biometric screening company Clear, which inked a deal in 2021 for 120,000 square feet at an average rent of $110 per square foot over 15 years, excluding a monthly abatement.
Google paid $2.1 billion for the 1.3 million-square-foot office building at 550 Washington when it was under construction. It previously bought Chelsea Market for $2.4 billion and 111 Eighth Avenue in 2010 for $1.77 billion.
The tech giant has a purchase option on more than 250,000 square feet it leases at Pier 57, and still leases at 315 and 345 Hudson Street. At the latter address it is trying to sublease 300,000 square feet for the final two years of its deal.
Read more
Commercial
New York
Google takes another 60K sf at Vornado and Related's 85 10th Avenue
New York
Related, Vornado land $396M Deutsche refi for Chelsea office
New York
Google signs for 180K sf at former Nabisco factory in Chelsea