$2B BUILDING

Google announced on Tuesday that it intends to purchase for $2.1 billion early next year a Manhattan property it has been leasing.

The 1.3 million-square-foot former freight terminal called St. John’s Terminal adds to the significant collection of real estate that the search and advertising giant has in New York.

The company already owns two buildings next door, bringing the combined campus to 1.7 million square feet.

The planned acquisition suggests that Google’s embrace of remote work in response to the coronavirus pandemic may not be a long-term strategy.

“New York’s energy, creativity and world-class talent are what keep us rooted here and why we’re deepening our commitment with plans to purchase St. John’s Terminal,” Alphabet and Google Chief Financial Officer Ruth Porat said in a press release.