Google to purchase $2 billion business center in New York

Moscow, Google is planning to purchase the St. John’s Terminal business center in New York City for over $2 billion, the company’s Chief Financial Officer Ruth Porat said.

“We’re announcing today that we are deepening our commitment to New York and intend to purchase the St. John’s Terminal in Manhattan for $2.1 billion, which will serve as the anchor of our new Hudson Square campus,” Porat said.

In addition to this purchase, Google is planning to invest over $250 million this year into its New York campus presence, which will play an important role in the company’s aim of meeting its racial equity commitments and will help in the growth of the company’s workforce in “diverse communities like New York.”

Google is currently renting St. John’s Terminal, which previously used to be a freight transfer facility, and will be opening it in mid-2023 after renovations. With 12,000 employees already on board in New York, the company added that in the coming years it was planning to hire 2,000 more.

Google is part of the Alphabet Inc. multinational conglomerate company which also owns several former Google subsidiaries including YouTube, CapitalG and Google Ventures.

(EW correspondent)