November 21, 2018

Google Is Said to Be Shopping for More Real Estate in New York


SAN FRANCISCO — Amazon may not be the only technology giant considering a big expansion in New York.

Google is in discussions to move into a planned 1.3 million square foot office complex at the St. John’s Terminal building on Manhattan’s West Side, according to a person with knowledge of the company’s plans but not permitted to speak about it publicly.

The property, which is expected to be completed in 2022, would allow the internet giant to significantly increase its presence in the city. Google employs around 7,000 in New York, and a space that size could allow it to more than double its local work force.

The potential expansion, reported earlier by The Wall Street Journal, comes on the heels of news that Amazon appears close to building a corporate office in the city. According to two people briefed on the negotiations, Amazon is close to naming Long Island City, a fast-growing neighborhood on the western edge of Queens, as one of two locations that would together house as many as 50,000 employees.

St. John’s Terminal is being developed in Hudson Square by Oxford Properties, a Toronto-based developer. The 12-story building will incorporate a former freight terminal for the High Line and showcases rail beds as a central design feature.

As tech companies expand in New York, they are likely to compete with Wall Street for engineering talent.

New York has always had a significant technology industry of its own, though it has been dwarfed by the financial industry. For years, the city has ranked second or third among communities in the United States in total tech venture capital investment — with Silicon Valley and its surrounding area far and away the leader.

New York’s technology work force is also among the nation’s largest, with many computer engineers working on the enormous data systems that power big financial institutions. Roughly 25 percent of Goldman Sachs’s work force, for example, is dedicated to technology tasks, according to reports.

Facebook also has a big office in New York, as do many other Silicon Valley companies. One of Microsoft’s most important research labs is in the city. And some of the industry’s most advanced research in complex and superfast computing systems is being done in New York, largely because of work with the big banks.

But one thing the city has not been able to claim in a long time is a technology powerhouse of its own. The closest home of a tech heavyweight is Armonk, N.Y, about 40 miles away, where IBM is based. (IBM also has major offices in Manhattan.)



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