Airbnb has finalized a deal to purchase 281 Park Ave South, the historic Church Missions House in Gramercy, for a reported $81.5 million. RFR was the seller. The six-story building is the first property that Airbnb has ever purchased in New York, a city that in 2021 enacted a law to further restrict short-term rentals.
The Wall Street Journal reported that Airbnb, which already leases space in Lower Manhattan, acquired the 42,000-square-foot property as a roomier gathering place for its employees. The company employs more than 600 workers in the New York area.
“New York City has been part of our story since the earliest days of Airbnb,” said CEO Brian Chesky. “This building reflects our long-term commitment to the city and will be home to one of our largest employee hubs outside of San Francisco. We’re excited to keep investing in the city and the people who make it extraordinary.”
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