{"id":33482,"date":"2018-11-14T17:14:27","date_gmt":"2018-11-14T15:14:27","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=33482"},"modified":"2018-11-14T17:14:27","modified_gmt":"2018-11-14T15:14:27","slug":"google-to-more-than-double-its-nyc-offices-by-2022","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/","title":{"rendered":"Google to More Than Double its NYC Offices by 2022"},"content":{"rendered":"<p>Google is growing its NYC footprint with a 1.85 million square-foot office expansion, enough space for more than 12,000 additional employees, reported the Wall Street Journal. The majority of the expansion would be at the planned St. John&#8217;s Terminal in the West Village. Alphabet Inc., Google\u2019s parent company, is close to a deal to purchase or lease the 1.3 million square-foot project.<\/p>\n<p>According to the WSJ, Google plans to make its Chelsea campus contiguous from 8<sup>th<\/sup> Street to the East River by expanding Chelsea Market by 300,000 square feet and occupying 250,000 square feet at the under-construction Pier 57 project. Google currently owns 4.7 million square feet in NYC, of which it occupies about 1.5 million square feet, per <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noopener\">Yardi Matrix<\/a> data. Other companies on long-term leases occupy the rest.<\/p>\n<p>Slated for a 2022 completion, St. John\u2019s Terminal will bring 1.3 million square feet of class A office space to the West Village, one of the most expensive residential neighborhoods in the city. West Village median home prices are off their 2015 highs of $1.38 million, down 9% to a current $1.26 million.<\/p>\n<p>The Impact on Property\u00a0Values<\/p>\n<p>This may further boost housing prices in the neighborhood, similar to when it moved to Chelsea in 2006. Median home prices have been increasing steadily in Chelsea, reaching $1.26 million in 2018, a 23% increase year-over-year.<\/p>\n<p>At $3.5 million, TriBeCa&#8217;s median home price dropped 30% compared to year-ago figures. Last year represented historic highs\u00a0of $4.57 million for this neighborhood. Comparatively, at $2.99 million, SoHo experienced a less dramatic drop of 14.5% from its 2016 highs of $3.44 million.<\/p>\n<p>Google\u2019s move is part of a wider trend of tech companies expanding beyond the West Coast. While smaller tech companies are in search of lower costs and high quality talent, targeting markets like Austin, Raleigh-Durham and Orlando, tech behemoths such as Amazon and Google are choosing more prestigious locations like NYC and DC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Google is growing its NYC footprint with a 1.85 million square-foot office expansion, enough space for more than 12,000 additional employees, reported the Wall Street Journal. The majority of the expansion would be at the planned St. John&#8217;s Terminal in the West Village. Alphabet Inc., Google\u2019s parent company, is close to a deal to purchase&hellip;<\/p>\n","protected":false},"author":63,"featured_media":33486,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[328],"tags":[],"class_list":["post-33482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Google to More Than Double its NYC Offices by 2022 - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"Google is growing its NYC footprint with a 1.85 million square-foot office expansion, enough space for more than 12,000 additional employees.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Google to More Than Double its NYC Offices by 2022\" \/>\n<meta property=\"og:description\" content=\"Google is growing its NYC footprint with a 1.85 million square-foot office expansion, enough space for more than 12,000 additional employees.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-14T15:14:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2018\/11\/featured_Greenwich-Village_1920x1280.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Patrick McGregor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patrick McGregor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Google to More Than Double its NYC Offices by 2022 - 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PropertyShark Real Estate Blog","isPartOf":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2018\/11\/featured_Greenwich-Village_1920x1280.jpg","datePublished":"2018-11-14T15:14:27+00:00","author":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#\/schema\/person\/c4b8bd92d517f49f64d90afedab8ec29"},"description":"Google is growing its NYC footprint with a 1.85 million square-foot office expansion, enough space for more than 12,000 additional employees.","breadcrumb":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/#primaryimage","url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2018\/11\/featured_Greenwich-Village_1920x1280.jpg","contentUrl":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2018\/11\/featured_Greenwich-Village_1920x1280.jpg","width":1920,"height":1280},{"@type":"BreadcrumbList","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/14\/google-to-more-than-double-its-nyc-offices-by-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/"},{"@type":"ListItem","position":2,"name":"Google to More Than Double its NYC Offices by 2022"}]},{"@type":"WebSite","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#website","url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/","name":"PropertyShark Real Estate Blog","description":"Market Reports for Real Estate Writers","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#\/schema\/person\/c4b8bd92d517f49f64d90afedab8ec29","name":"Patrick McGregor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5b90aa64c1da6b7d4a441251c5a4e3fe2d972d8c339810e2eea50def586669b?s=96&d=retro&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5b90aa64c1da6b7d4a441251c5a4e3fe2d972d8c339810e2eea50def586669b?s=96&d=retro&r=g","caption":"Patrick McGregor"},"description":"Patrick McGregor is a senior writer covering the real estate industry and overall economic trends in the United States for several Yardi product publications. He also holds an MBA from Thunderbird School of Global Management. Patrick was previously a commercial real estate analyst at Yardi Matrix for five years. His work has appeared in the New York Times, Bisnow, GlobeSt, The Real Deal, Business Insider, The Denver Post, The Motley Fool, and more.","sameAs":["patrick.mcgregor@yardi.com"],"url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/author\/patrickmcgregor\/"}]}},"jetpack_featured_media_url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2018\/11\/featured_Greenwich-Village_1920x1280.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/posts\/33482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/comments?post=33482"}],"version-history":[{"count":5,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/posts\/33482\/revisions"}],"predecessor-version":[{"id":33497,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/posts\/33482\/revisions\/33497"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/media\/33486"}],"wp:attachment":[{"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/media?parent=33482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/categories?post=33482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/tags?post=33482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}