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Google Picks Up Huge Chelsea Office Building for $1.8 Billion

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The company with the unofficial motto of "Don't be evil" has kindly given the city's commercial real estate brokers another reason to get up in the morning. That's right: Google has officially signed on the dotted line to purchase 111 Eighth Avenue, the city's fourth-largest office building at 2.9 million square feet, the Times reports. The sale was rumored to be "tantalizingly" close to $2 billion, and it officially rang up at more than $1.8 billion, according to a few anonymous real estate execs who know the details of the deal. Google, one of the building's current tenants, should close on the sale by the end of year. Which means, come 2011, use of Yahoo by any other building tenant will be grounds for eviction.
· Google to Pay $1.8 Billion for Its New York Office [NYT]
· Google May Buy Massive Chelsea Office Building for $2 Billion [Curbed]