Facebook Seals Lease for 1.5M Square Feet at Hudson Yards
The tech behemoth has locked down a 1.5 million-square-foot lease spanning the Hudson Yards commercial development.
NEW YORK CITY – Tech behemoth Facebook has locked down a 1.5 million-square-foot lease spanning the Hudson Yards commercial development. Cushman & Wakefield represented Facebook and Related Companies handled the transaction in-house.
The infamous social media company will occupy 1.2 million square feet at 50 Hudson Yards, an estimated 265,000 square feet at 30 Hudson Yards and roughly 57,000 square feet at 55 Hudson Yards, and is slated to move into the offices next year.
“When considering the next phase of our growth in the city, it was important that our newest office space was situated in the heart of a vibrant community that offered access to arts, culture, media and commerce. Hudson Yards offered this and more,” said John Tenanes, vice president of global facilities and real estate at Facebook, in a prepared statement.
Preceding the deal close was months of speculation about whether Facebook would go with Hudson Yards or Vornado Realty Trust‘s Farley Building.
This latest lease expands Facebook’s footprint in New York City. It currently leases an estimated 680,000 square feet of office at 770 Broadway, 213,000 square feet at 225 Park Avenue South and 40,000 square feet at The Company Building at 335 Madison Avenue.