Apple expands its search for new Manhattan office space

Posted On Thu, August 15, 2019 By

Posted On Thu, August 15, 2019 By In real estate trends

Photo of Hudson Yards via Flickr

Several of the world’s biggest tech companies have been ramping up their Manhattan real estate search in recent months. The latest news comes from Apple, who is reportedly seeking up to 750,000 square feet of new office space, according to The Real Deal. In February, 6sqft reported that the California-based company was close to securing space at 55 Hudson Yards, but those plans have changed. Sources told The Real Deal that Apple is now considering leases at neighboring 50 Hudson Yards, the Farley Post Office, and One Madison Avenue, with brokers Martin “Mack” Horner and Peter Riguardi of JLL leading the search.

Apple already occupies about 45,000 square-feet at 100-104 Fifth Avenue in the Flatiron District, but like its fellow tech giants, the company is expanding. The new office space would be used to accommodate new hires, sources say.

Facebook is also reportedly under negotiations to take up to 1.8 million square feet at 50 Hudson Yards. They would join early tenants like BlackRock who signed a 20-year lease for 15 floors. Construction on the tower recently rose above ground and it’s expected to be completed in 2022. Meanwhile, Facebook is considering leases at 30 Hudson Yards and 55 Hudson Yards until construction wraps up. It’s not yet clear how that construction schedule may or may not impact Apple’s plans.

Amazon seems to be setting its sights on Midtown. Initially, they were said to be checking out space at Manhattan West, but more recent reports state they’re considering space in the Lord & Taylor flagship now owned by WeWork and at 460 West 34th Street. Amazon is also planning to add more distribution facilities and that search is focused on the outer boroughs.

[Via The Real Deal]

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