Facebook Leases 730,000 SF at Vornado’s Farley Building
The Farley Building is a cornerstone of Vornado’s new Penn District, where the REIT owns 10 million square feet.
NEW YORK CITY—Facebook has leased all 730,000 square feet of the office space at Vornado Realty Trust’s The Farley Building.
The Farley Building is a cornerstone of Vornado’s new Penn District, where the REIT owns 10 million square feet and is in the midst of a more than $2 billion transformation of the neighborhood alongside government infrastructure and transportation improvements of more than $3 billion.
Farley occupies a double-wide block between 31st and 33rd Streets and stretches from 8th to 9th Avenues. It is adjacent to Penn Station and across the street from Madison Square Garden.
Farley is an iconic Beaux Arts New York City landmark designed by McKim, Mead & White that Vornado is converting into a mixed-use development featuring creative office space.
The full complex will include Facebook’s office space, the Moynihan Train Hall and 120,000 square feet of retail space with food and beverage, full-service restaurants and lifestyle brands. The project is expected to be completed in phases beginning by year-end 2020.
“Facebook’s commitment is a further testament to New York City’s extraordinary talent and reinforces New York’s position as the nation’s second tech hub,” says Vornado CEO Steven Roth in prepared remarks.
The Farley Building will anchor Facebook’s New York footprint and 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.
In addition to The Farley Building, Facebook leases office space at Vornado’s 770 Broadway and in nearby Hudson Yards. The Farley development is owned 95% by Vornado and 5% by The Related Companies.