IAC, a holding company of consumer products and brands, has completed an $80 million all-cash transaction to acquire the land beneath its New York City headquarters at 555 West 18th Street. This move unites the building with the ground below it.
Barry Diller, chairman and senior executive of IAC commented on this acquisition stating: “Our building was always more than an office; we wanted to excite imaginations, stimulate ideas and collaboration in an area that is transforming rapidly.” The transaction was brokered by Institutional Property Advisors with a team led by Eric Michael Anton and Steven J. Siegel.
IAC recently purchased land under its NYC headquarters for $80 million – uniting their building with the ground beneath it in order to foster creativity among employees as well as contribute to local transformation efforts within their cityscape.
