Google’s $2.5B Deal for Chelsea Market, NYC’s 2nd Largest

Google’s corporate parent, Alphabet, cut a deal to acquire New York’s Chelsea Market for $2.5 billion, which would rank as the second largest ever in NYC. The full-block 1.2-million-square-foot mixed-use asset was assembled from 19 former factory buildings and was sold by Atlanta-based Jamestown.

Located at 75 Ninth Ave. the property includes air rights that would allow the tech giant to expand the property to 1.5 million square feet. The ground floor features a dynamic blend of food shops, restaurants and wholesalers, while upper floors include office space.

Google’s Chelsea Market expansion encompasses roughly 400,000 square feet in the building. Its NY HQ is at 111 Eighth Ave., and it also has digs at 85 Tenth and an option on more than 250,000 square feet at Super Pier 57.

Cushman & Wakefield’s Douglas Harmon represented the seller.

The GM Building $2.8-billion sale in 2007 is the largest NYC deal.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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