Google Keeps Expanding In New York With Unique Pier 57 Deal
The tech behemoth has a tentative agreement to expand its planned 250K SF lease at Pier 57, which is being redeveloped by RXR Realty and Youngwoo & Associates, Crain's New York Business reports. If the deal goes through, Google would lease an additional 70K SF for offices and take 50K SF more to create public engagement and educational space.
The public space would be divided between a 5K SF waterside space, for harbor views on the south side of the pier, and a 24K SF area inside the building for educational and community events, both for Google's technology and for Hudson River Park Trust programming. Part of the latter space will be in a watertight basement underneath the pier, which helps it stay afloat.
The new agreement is subject to approval from the community board, which will vote in 60 days, but it has the backing of the Trust, which will also be receiving $20M from the lease, as part of its agreement with RXR and Youngwoo. The joint venture's $350M redevelopment of the vacant building is scheduled to be completed in 2019.
A long-planned part of that redevelopment has been a food hall by celebrity chef and TV personality Anthony Bourdain, but Google's new deal would shrink that component from 140K SF to 40K, according to Crain's. An additional 20K SF of retail space on the ground floor will include restaurants and shops, some of them slated for pop-up stores. Another restaurant is planned for the roof of the pier building, along with another public park.
Pier 57 is across the West Side Highway from 15th Street, making it a five-minute walk from Google's New York headquarters and the Chelsea Market building, which Google is under contract to buying for close to $2.5B.