NEW YORK CITY-In what would be the largest single-asset sale inthe US this year, Google reportedly has signed a contract to buythe 2.9-million-square-foot office property at 111 Eighth Ave.,where it already occupies 500,000 square feet of East Coastheadquarters space. The $1.8-billion deal, rumored for the pastseveral weeks, is expected to close by year’s end, according topublished reports.

The tech giant has put down a substantial deposit on its 111Eighth purchase, the New York Times and New YorkPost both reported late Thursday. Google’s balance sheetcurrently has about $11 billion in cash along with $22.1 billion inmarketable securities, according to the Mountain View, CA-basedcompany’s third-quarter financial statement.

Dan Fasulo, managing director of Real Capital Analytics, callsthe deal “a bullish sign for the market overall.” However, he tellsGlobeSt.com that there are aspects of the transaction that make ita special case, including the property’s location in “a very hotsubmarket, the Meatpacking District,” its high-tech infrastructureand the buyer’s deep pockets.