On Tuesday, Google purchased Chelsea Market in New York from the investment company Jamestown for $2.4 bln, according to Jamestown’s message, Finance.ua reports.
Google’s New York offices, which occupy the whole Manhattan’s block, are just opposite the market. The Internet giant acquired it in 2010 from Jamestown for $1.77. Nearly 7 ths people work in it.
Taking into account a new deal, Google has the rights for almost 1.2 mln sq. feet (110.4 ths sq. meters) of areas in one of the most rapidly developing districts of the city.
National Biscuit Company (Nabisco) was reequipped into the trade, office and broadcasting center in late 90s. The factory, which was built a hundred years earlier, stopped fulfilling the main function in late 50s, when Nabisco moved to the suburbs, and declined for several decades. In 1995, the investor Irvin Cohen started restoring the factory complex, and the project Vandeberg Architects became one of the most successful examples of gentrification. Jamestown purchased 75% of Chelsea Market in 2003.
The food market and food court on the first floor is one of the most famous landmarks of Chelsea Market. Each month, over 500 ths local citizens and tourists visit them.
The list of complex tenants includes Food Network and Major League Baseball (MLB).
Google still does not plan to change the structure of the complex. Meanwhile, New York experts in real estate market note that the city zoning rules allow the company to add eight floors to the building. According to the agreements of parties, Jamestown will continue managing commercial areas and food court.
