What is Google spending $2.9 billion on?

$2.9 billion is certainly a tidy sum, even for a mega-corporation like Google. 

But that is what the Internet search giant is (reportedly) getting ready to cough up for a building located on Eighth Avenue in NYC’s swanky Chelsea neighborhood. 

The building certainly has its advantages, however. 

It boasts an impressive 18 stories, a staggering 2.9 million square feet of space and covers an entire city block.

Reports of an impending sale certainly seem plausible, as Google has announced plans to significantly expand its NYC presence.

In addition, the company is already renting at least 550,000 square feet in the building it is currently eyeing.

And as Lois Weiss of the New York Post notes, the coveted building – formerly a Port Authority property – is equipped with back-up generators, an ample supply of electrical power, antennas, fiber optics and high-tech facilities.