Social media giant Meta has declined an option to renew leases encompassing 250K SF at Manhattan's Hudson Yards when they expire in 2024 as part of a reduction in the Facebook parent's workforce.
Meta will vacate its space at 30 and 55 Hudson Yards, two skyscrapers owned by Related Cos. in the massive West Side development, according to a report in Bloomberg.
When it was in a much more expansive mode, Meta agreed in 2019 to rent more than 1.5M SF in three new towers at Hudson Yards, with most of the space earmarked for 50 Hudson Yards.
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