Google drops $2B for NYC landmark

Google is buying New York City landmark Chelsea Market for a cool $2 billion, The Real Deal reports. The tech company already leases 400,000 square feet, making it the building's largest tenant: Other businesses in the building include the Food Network and Major League baseball, as well as a bustling and popular food hall. Google already has a significant real estate footprint in Chelsea: When the company bought its current New York City headquarters in 2010, it paid a then-record $1.77 billion, Business Insider reports. Google's purchase is one of a number of moves by Silicon Valley giants into big cities, including Apple on Chicago's waterfront and Amazon's much anticipated second headquarters Quartz says.

Comments

Post a Comment

Popular posts from this blog

Opinion: Getting rich has more to do with luck than talent

The UK suffers from the  highest levels of income inequality in Europe  – partly because of the delusions of its rich. In countries where the rich have less, they  tend to be less delusional , about themselves, about other people, about what is possible, and about why some become rich. In the UK, it is unsurprising to read that an investment banker thinks £100m is a lot of money but  “not a ridiculous amount of money” . In a report in The Guardian newspaper earlier this month, we also heard that one particular banker is “fairly confident” that a driven and passionate individual could “start from zero and get to £100m within 20 years”. However, there is hope. In the research report that kicked off this latest set of news stories, Katharina Hecht from the London School of Economics and Political Science found that  one third of her sample  of extremely rich people working in the City of London agreed that “the government should reduce income dif...
Read more

The Hot New Hip-Hop Producer Who Does Everything on His iPhone

A few minutes after Steve Lacy arrived at a dingy, weed-clouded recording studio in Burbank, the 18-year-old musician flopped down in a plush leather chair in the control room. Vince, one of the studio’s proprietors, came in to show Lacy how the mixing boards and monitors worked. Lacy didn’t care; he was just in it for the chair. He picked up his new black-and-white Rickenbacker guitar, then reached into his Herschel backpack and yanked out a mess of cables. Out of the mess emerged his iRig, an interface adapter that connects his guitar directly into his iPhone 6. He shoved it into the Lightning port and began tuning his instrument, staring at the GarageBand pitch meter through the cracks on the screen of his phone. Lacy’s smartphone has been his personal studio since he first started making music. Guitar ready, Lacy relocated into the studio. He usually works in the vocal booth, where he’ll light candles and hang for hours, but since I had a cameraman with me he agr...
Read more

The Amazon-Walmart Showdown That Explains the Modern Economy

Image
With Amazon buying the high-end grocery chain Whole Foods, something retail analysts have known for years is now apparent to everyone: The online retailer is on a collision course with Walmart to try to be the predominant seller of pretty much everything you buy. Each one is trying to become more like the other — Walmart by investing heavily in its technology, Amazon by opening physical bookstores and now buying physical supermarkets. But this is more than a battle between two business titans. Their rivalry sheds light on the shifting economics of nearly every major industry, replete with winner-take-all effects and huge advantages that accrue to the biggest and best-run organizations, to the detriment of upstarts and second-fiddle players. That in turn has been a boon for consumers but also has more worrying implications for jobs , wages and inequality. To understand this epic shift, you can look not just to the grocery business, but also to my closet,...
Read more