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Google closes on $2.4 billion Chelsea Market purchase in NYC

NEW YORK (AP) — Google Inc. has finalized the $2.4 billion purchase of New York City's Chelsea Market building. The management company Jamestown Properties announced the sale of the former Nabisco factory on Tuesday.

The building is directly opposite Google's New York City headquarters in Manhattan's Chelsea neighborhood. Google has about 7,000 employees in New York, the most of any location outside of its Silicon Valley headquarters.

Google vice president for real estate David Radcliffe says the Chelsea Market purchase "further solidifies" the company's commitment to New York. Google and Jamestown say they'll work together to ensure a smooth transition with minimal impact to tenants.

The building's office tenants include Major League Baseball and the Food Network. Jamestown will continue to manage Chelsea Market's popular food hall, which draws millions of visitors every year.

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