The $81.5 million Gramercy purchase is expected to house Airbnb’s New York workforce of more than 600 employees despite the city’s crackdown on short-term rentals, including Local Law 18.
Airbnb has bought 281 Park Avenue South, a landmarked six-story building in Manhattan’s Gramercy area, for $81.5 million, according to The Wall Street Journal. The property is expected to become a hub for Airbnb’s New York-area workforce of more than 600 employees, signaling a deeper long-term commitment to the city even after years of conflict over short-term rental restrictions including Local Law 18 and a 30-day minimum stay requirement.