Alphabet announces USD 1 bn NYC real-estate expansion

Google's parent company Alphabet said Monday it was investing over USD 1 billion in capital improvements to establish a new campus in New York City.

In a blog post, Alphabet CFO Ruth Porat wrote that it is leasing a large office building in Manhattan's West Village neighbourhood, the centerpiece of a campus more than 1.7 million square-feet large.

The expansion would make the company one of the city's largest commercial tenants, according to The Wall Street Journal.