Facebook in talks to lease up to 1.8 million square feet at Hudson Yards

Posted On Thu, August 8, 2019 By

Posted On Thu, August 8, 2019 By In hudson yards

Image by Timothy Schenck; courtesy of Related-Oxford

In June, reports surfaced that Facebook was considering a lease for one million square feet of office space at 50 Hudson Yards, but the latest news from sources close to the deal indicate that the social media company will scoop up an even bigger footprint. As Crain’s most recently reported, Facebook is negotiating a lease for 1.5 million square feet across several Hudson Yards properties, with some sources saying that number could expand up to 1.8 million square feet.

The bulk of Facebook’s lease will occupy 50 Hudson Yards, the 1,000-foot-tall office tower co-developed by Related and Oxford Properties Group that became the city’s most expensive office building at $4 billion. Since that building isn’t slated for completion until 2022, Facebook is looking to neighboring towers at 30 Hudson Yards and 55 Hudson Yards—both complete—to set up their operations while 50 Hudson Yards is under construction.

This news comes as several tech giants look to expand their presence in the city. Google is going forward with a $1 billion investment to open 1.7 million square feet of office space at St. John’s Terminal in Hudson Square. Rumors about Amazon’s ongoing real estate hunt are many and not yet confirmed, but one potential site is 2 Manhattan West at Hudson Yards.

[Via Crain’s]

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