Google revealed Tuesday that it plans to buy a New York City office building for $2.1 billion—even as most of its workforce remains remote following the Covid-19 pandemic.
The purchase is the most expensive for any single U.S. office building since the pandemic’s inception, according to The Wall Street Journal, citing Real Capital Analytics.
Google already leases the St. John’s Terminal building in the Hudson Square neighborhood of Manhattan and will exercise an option to buy. In a blog post, CFO Ruth Porat said the building would “serve as the anchor” of its new campus in the area.
The deal is a positive sign for New York as it emerges from the pandemic even as major employers including Google have postponed their return-to-office dates. Google has told employees they don’t need to return to the office until January, although its CEO has said he expects around 20% of employees to continue working remotely past that date.
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