Success Stories

IAC, InterActive Corp.

Business Need

IAC, founded by Barry Diller, is a media and Internet company comprising more than 150 brands and products in operation around the world. In 2005, IAC wanted to relocate and consolidate its corporate headquarters to the West Chelsea section of New York City.

To that end IAC commissioned world-renowned architect Frank Gehry to start designs on a unique, never-before-seen structure that would redefine the Chelsea neighborhood on West 18th St. along the Westside Highway. Once completed, the new headquarters would provide offices for approximately 250 employees and allow room for growth of up to 488 additional staffers. But in order to construct this iconic building, IAC needed help to make the task feasible.

Solution

NYCIDA was able to offer IAC participation in the New York Liberty Bond Program. IDA delivered substantial funding in Liberty Bonds as well as sales tax benefits and business incentive rate savings tied to the company’s ongoing job retention and creation.

Its stunning, angular, sail-like glass design is a beacon on New York City’s Westside neighboring the High Line. It boasts the world’s largest video wall housed in its glassed-in lobby. With 360 degrees of breathtaking views, the building is home to IAC’s corporate employees as well as some of their world-class companies such as Daily Beast and Vimeo.

This structure is one of New York City’s “must see” architectural jewels.