Google to acquire NYC's Chelsea Market building for over $2 billion

Yellow cabs in front of the entrance to the Chelsea Market building
The Chelsea Market building. Photo: George Rose/Getty Images

Google is on the verge of spending billions on another major building in Lower Manhattan, Mark Maurer reports at The Real Deal.

Why it matters: Tech's growing real estate presence in New York is a reflection of its massive clout and power. Amazon signed a lease last fall, for example, on more than 350,000 square feet of additional office space elsewhere in Manhattan.