Airbnb Paid $81 Million for a Building in NYC — the Only One It Now Owns

Key Points

• Airbnb bought its first-ever owned building — 281 Park Avenue South in NYC — for $81.5 million, even leasing its own San Francisco HQ, to centralize workspace for ~600 NYC employees.
• The purchase is a symbolic show of commitment to New York City, a former top market where Local Law 18 has effectively banned most Airbnb short-term rentals since 2022.
• Airbnb continues to fight the regulations, contributing $10 million to a PAC in 2025 to lobby against the city's short-term rental restrictions, while balancing remote flexibility with in-person collaboration.

Summary

Airbnb has purchased its first-ever owned building — a six-story, 42,500-square-foot property at 281 Park Avenue South in New York City — for $81.5 million, a notable move given that NYC's Local Law 18 has effectively banned most short-term rentals since 2022. The building (which has a pop-culture link to Netflix's "Inventing Anna") will serve as a centralized office for roughly 600 NYC employees, signaling Airbnb's commitment to and confidence in the city despite ongoing regulatory friction. CEO Brian Chesky joked that it represents "at least one legal Airbnb property in NYC." The purchase coincides with Airbnb's continued lobbying efforts — including a $10 million contribution to a PAC in 2025 aimed at overturning the city's short-term rental rules — as it seeks to reclaim what was once one of its top markets, all while balancing a "Live and Work Anywhere" remote policy with a stated priority on in-person collaboration.