IAC, a holding company of consumer products and brands, has completed an $80 million all-cash transaction to acquire the land under its New York City headquarters at 555 West 18th Street. The move unites the building with the ground beneath it.  

“Our building was always more than an office,” said Barry Diller, chairman and senior executive of IAC. “We didn’t want to build another skyscraper, we wanted to excite the imagination, stimulate ideas and collaboration, and do so in an area of the city at the cusp of transformation.” 

The transaction was brokered by Institutional Property Advisors with a team led by Eric Michael Anton and Steven J. Siegel.