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Google plans to buy office space in New York City for $2.1 billion By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: The logo of the New York Google office can be seen. New York City (USA), July 29, 2021. REUTERS/Andrew Kell

(Reuters) – Alphabet (NASDAQ:) Inc-owned Google plans to buy an office building in Manhattan for $2.1 billion, even as most of its employees work remotely and companies adopt hybrid work models.

In a Tuesday blog post, Ruth Porat, chief financial officer, stated that the deal to buy St. John’s Terminal New York City will be completed in the first quarter 2019.

Nearly a month ago, Sundar Paichai, the top manager of Google, informed employees by email that Google had extended its voluntary return-to office policy to January in response to increasing cases of COVID-19-variant Delta.

Porat explained that this investment builds on our previous plans to spend more than $250m in New York campuses.

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