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Google Buys Giant New York Building for $1.9 Billion

• Wired

But 111 Eighth Avenue is no ordinary humongous building. As it happens, the structure sits almost directly on top of where the Hudson Street/Ninth Avenue fiber highway makes a dog-leg to the right before heading north-east toward the Upper West Side.

In New York City, fiber-optic cables travel in large bundles underneath the asphalt.

The building’s previous owners, a consortium led by Taconic Investment Partners, knew that proximity to the fiber-line would be attractive to companies, so they tricked out the building with something called a network-neutral “Meet-Me” room, which is literally a room filled with networking equipment that allows the tenants to connect with each other — and the fiber-line.

Thus, 111 Eighth Avenue has become known as one of the most important so-called telecom carrier hotels on the Eastern seaboard, if not the entire United States.

But of course, Google already knew that, which is why it moved into the building in the first place in 2006. It’s also the reason that companies like Verizon, Sprint, Level 3, WebMD, Nike, and ad agency Deutsch are tenants.

In a blog post Wednesday, Google announced that it has closed the deal and said it has re-upped with Taconic Management Company to continue running the leasing and management operations of the building

Google said that it now has 2000 employees in the New York City, and — no surprise — it’s hiring like crazy, which will just heighten an already red-hot tech labor market in the city.


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