Facebook Signs Lease at Hudson Yards as It Expands In NYC
Facebook Signs Lease at Hudson Yards as It Expands In NYC
(Bloomberg) -- Facebook Inc. is coming to Hudson Yards, part of a major push by the tech giant to expand its presence in New York City.
The social media company signed a lease for more than 1.5 million square feet of space (139,000 square meters) across three buildings at the development, according to a statement Thursday.
Even with Amazon.com Inc. pulling out of a deal to bring a headquarters to New York, tech giants continue to expand in the city. Google been boosting its presence in the area near its Chelsea hub, while Facebook is setting up shop at Hudson Yards, the mega-project that has reshaped the far west side of Manhattan.
The bulk of Facebook’s space will be at 50 Hudson Yards, where BlackRock Inc. is the anchor tenant, according to the statement by developers Related Cos. and Oxford Properties Group. The company is also taking offices in towers 30 and 55 at the project.
The lease is one of the biggest-ever real estate transactions for Facebook, which opened its first New York offices in 2007, the company said in a statement. Employees will start moving to Hudson Yards in 2020, but it hasn’t been determined what teams will work in the new offices.
The company said it plans to keep its current New York spaces as it expands. That includes roughly a million square feet across two locations, 770 Broadway and 225 Park Avenue South.
The New York Post reported recently that Facebook is competing with Apple Inc. to take over the entire Farley Building, across Eighth Avenue from Pennsylvania Station.
To contact the reporter on this story: Natalie Wong in Toronto at nwong133@bloomberg.net
To contact the editors responsible for this story: Craig Giammona at cgiammona@bloomberg.net, Christine Maurus
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