Google Locks In Major Hudson Square Lease Amid NYC Office Reset

The tech giant is consolidating Hudson Square offices amid broader portfolio changes.

Nina Dale
June 23, 2026

Together with

Good morning. Google has locked in its headquarters at 315 Hudson St. with a 410K SF renewal in Hudson Square. The move reflects a shift toward consolidation rather than expansion across its Manhattan portfolio.

🎙️ This Week on No Cap: Presidium Co-Founder John Griggs shares how navigating multiple real estate cycles—from the dot-com crash to the GFC—helped build a vertically integrated platform that has renovated more than 20,000 units across the Sun Belt. (Thanks to our sponsor, Lennar Investor Marketplace)

Listen & subscribe: Apple Podcasts | Spotify | YouTube

TOGETHER WITH ARBOR REALTY TRUST

Discover Arbor's Data-Driven CRE Insights

From in-depth research reports to impactful articles, Arbor Realty Trust and Chandan Economics partner to bring you exclusive thought leadership content about key trends shaping commercial real estate finance, including multifamily, single-family rentals, and affordable housing.

Stay on top of the markets by subscribing to receive first access to our reports, articles, and product news.

*This is a paid advertisement. Please see the full disclosure at the bottom of the newsletter.

Market Snapshot

Most Active Neighborhood

By Deal Count

Crown Heights (9 sales)

Properties Sold

All Asset Types

145

Transaction Volume

Sales Activity

$846.9M

Top Office Submarket

Avg Starting Rent

Hudson Yards

$175.50 / SF

Manhattan Office Rent

Avg Effective

$82.77 / SF

Office Rent Growth

YoY Change

+19.5%

*Office metrics courtesy of CompStak; data from 1/01/26 to 3/31/26. Sales metrics courtesy of Actovia; NYC properties reported sold during the week of 5/15/26–5/21/26.

Hudson Renewal

Google Secures Hudson Square HQ: 410K SF Renewal at 315 Hudson St

Source: Akrf

Google renewed its 410,556-square-foot lease at 315 Hudson St., reinforcing its long-term commitment to Manhattan while continuing to fine-tune its office footprint.

Hudson Square lease secured: Google locked in its headquarters space in Hudson Square, maintaining a major presence in the area, though key deal terms were not disclosed.

Original lease and growth phase: Google initially leased about 280,000 square feet in 2018 and later expanded to over 410,000 square feet, reflecting its rapid growth period in Hudson Square.

Shift to consolidation: The company is reducing overlap across nearby properties, including moves tied to 345 Hudson St., as it concentrates operations into fewer buildings.

Changes at 345 Hudson St.: Google has been shedding or marketing space at 345 Hudson St., potentially shifting more functions into 315 Hudson as part of a tighter footprint strategy.

Alphabet portfolio reset: Alphabet continues its global real estate optimization, including roughly $607M in office dispositions, while still renewing select NYC locations like 85 10th Ave.

Strong demand at the top end: Manhattan’s trophy office segment remains active, with major leases such as Simpson Thacher’s 916,000-square-foot deal at 570 Fifth Ave., alongside other large law firm and corporate signings.

➥ THE TAKEAWAY

Focused footprint strategy: Google is consolidating rather than expanding in NYC, prioritizing efficiency and key locations, while premium Manhattan office demand continues to show resilience among top tenants.

Around New York

➥ Manhattan’s office market maintained strong momentum in 2026, leading the nation in rents, investment sales, development activity, and coworking space while vacancy continued to decline.

➥ Elevated bond yields and persistent inflation could dampen New York City CRE activity, though leasing and investment demand remain strong for now.

➥ Related Companies and the Battery Park City Authority partnered to preserve and expand affordable housing at Tribeca Park, a 27-story residential tower in Lower Manhattan.

➥ The World Trade Center is nearly 95% leased, with strong tenant expansions and demand for premium office space reinforcing its position as a top Manhattan destination.

➥ Broad Street Development and KSR Capital secured a $138M refinancing for 370 Lexington Ave., supporting leasing momentum and modernization near Grand Central.

Follow the Money

MULTIFAMILYNEW YORKNYC rents accelerated broadly in May 2026, with Manhattan leading annual growth while all five boroughs showed strengthening short-term rent momentum above national levels.

MULTIFAMILYMIDTOWNA $480M loan will fund the transformation of Midtown’s former MONY Building at 1740 Broadway into a major mixed-income residential development with extensive amenities.

MULTIFAMILYTHE BRONXA developer acquired a $13.5M Bronx site and air rights to construct two 99-unit residential buildings at 761–769 East Tremont Avenue.

INFRASTRUCTUREQUEENSNYC DOT is redeveloping its Willets Point maintenance yard with a $121M project, replacing outdated facilities with new administration, warehouse, and resiliency-focused buildings.

OFFICEMIDTOWNBroad Street signed a $110M refinancing with ACORE for its Grand Central office property at 364 Lexington Avenue, strengthening financing for the Manhattan asset.

📈 CHART OF THE WEEK

New York leads Fortune 500 headquarters by a wide margin, followed by Chicago and Houston. Major tech and government hubs like San Jose, Washington D.C., and Dallas also rank highly, showing strong corporate concentration in a few key U.S. cities.

📬 Newsletters: Stay ahead of the market with our national CRE Daily newsletter — or get hyper-local insights from CRE Daily Texas.
🎙️Podcast: No Cap by CRE Daily delivers an unfiltered look at the biggest trends—and the money game behind them.
🗓️ CRE Events Calendar: The largest searchable calendar of commercial real estate events—filter by city or sector.
📊 Market Reports: A centralized hub for brokerage research and market intelligence, all in one place.
📈 Fear & Greed Index: A fully interactive sentiment tracker on the pulse of CRE built in partnership with John Burns Research & Consulting.