Google Closes on Chelsea Market Purchase for $2.4 Billion

Following reports that Google was buying the Chelsea Market building in early February, the sale has officially been finalized to the tune of $2.4 billion. In a statement, former owner Jamestown assures that “the two companies have agreed to work together to ensure a smooth transition with little or no impact to the community and tenants of the building.”

This means that the building at 76 Ninth Avenue between 15th and 16th streets, which houses New York City’s iconic and most popular food hall, will continue to exist as NYC knows it, and Jamestown will continue to manage the retail and food hall portion of the building. More than 500,000 people stream through the market each month to taste vendors such as Dizengoff, Los Tacos No. 1, Miznon, and more. Jamestown also manages Industry City in Sunset Park, Brooklyn.

Google, which has offices upstairs, along with Food Network and Major League Baseball, now owns much of that few-block radius, including the entire city block building of 111 Eighth Avenue across the street.

• Google Is Likely Buying Chelsea Market Building for More Than $2 Billion [ENY]