NEW YORK CITY—Facebook has leased all 730,000 square feet of theoffice space at Vornado Realty Trust's The Farley Building.

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The Farley Building is a cornerstone of Vornado's new PennDistrict, where the REIT owns 10 million square feet and is in themidst of a more than $2 billion transformation of the neighborhoodalongside government infrastructure and transportation improvementsof more than $3 billion.

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Farley occupies a double-wide block between 31st and 33rdStreets and stretches from 8th to 9th Avenues. It is adjacent toPenn Station and across the street from Madison Square Garden.

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Farley is an iconic Beaux Arts New York City landmark designedby McKim, Mead & White that Vornado is converting into amixed-use development featuring creative office space.

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The full complex will include Facebook's office space, theMoynihan Train Hall and 120,000 square feet of retail space withfood and beverage, full-service restaurants and lifestyle brands.The project is expected to be completed in phases beginning byyear-end 2020.

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"Facebook's commitment is a further testament to New York City'sextraordinary talent and reinforces New York's position as thenation's second tech hub," says Vornado CEO Steven Roth in preparedremarks.

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The Farley Building will anchor Facebook's New York footprintand create a dedicated hub for its tech and engineering teams,according to Robert Cookson, VP of Real Estate and Facilities,Americas, EMEA and APAC at Facebook.

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In addition to The Farley Building, Facebook leases office spaceat Vornado's 770 Broadway and in nearby Hudson Yards. The Farleydevelopment is owned 95% by Vornado and 5% by The RelatedCompanies.

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