Airbnb Buys First Manhattan Office Building for $81.5 Million

Airbnb purchased the six-story, 42,500-square-foot building at 281 Park Avenue South near Gramercy Park in Manhattan for $81.5 million, The Independent reported. The Wall Street Journal first identified the buyer in coverage published Thursday. The transaction is the company's first purchase of an office building in Manhattan.

Airbnb CEO Brian Chesky said the building reflects the company's long-term commitment to New York and will serve as one of its largest employee hubs outside San Francisco. He added that the company is excited to keep investing in the city and the people who make it extraordinary. The firm employs more than 600 people in the New York region.

The purchase occurred even as Airbnb maintains a flexible work-anywhere policy that permits remote work or relocation without pay adjustments. Many New York-area employees still prefer in-person collaboration, and the new space will support larger team gatherings while office attendance remains optional.

The building, originally constructed in 1894 and renovated in 2019, sold for about 63 percent more than the previous owner paid in 2014.

Airbnb has spent millions opposing New York City's short-term rental restrictions, including a $10 million contribution to its Affordable New York PAC that funded $1 million in ads targeting mayoral candidates Zohran Mamdani, Scott Stringer, and Brad Lander. New York City began enforcing Local Law 18 in 2023. The measure requires most hosts to register and sharply limits many short-term rentals.