Popular search engine giant Google, signed a contract to buy office building in New York at 111 Eight Ave. for about $1.8 billion which will serve as the company's Manhattan headquarters. Google already leases 51000 square meter of space in this 18-story building, which was built in 1932. This sale will be the biggest transaction for a single building in the U.S. this year and the largest commercial real estate purchase by a tenant in U.S. history. The building at 111 Eighth takes up an entire block between West 15th and 16th streets in the Chelsea section of Manhattan, south of Midtown. The former industrial warehouse has 270000 square meter floor space, more than the Empire State Building has.

Google Inc., according to the latest data, with market capitalization of $188 billion is the third valuable technology company in the world after Apple and Microsoft. Google Inc. was founded in 1998 by Larry Page and Sergey Brin. Later in 2001, Eric Schmidt from Apple, currently CEO of Goole, jointed the team of two founders. According to the latest company regulatory filling, Schmidt and Google co-founders Larry Page and Sergey Brin, all of whom own significant amounts of company stock, will continue to receive a symbolic $1 salary next year.