Facebook Plans to Expand Its NYC Presence

Written By Kristina Kennedy-Aguero | August 23, 2019 | Published in Neighborhood News
2019%2f08%2f23%2f16%2f37%2f50%2fd7f48f2c f82e 4b14 80c4 ca14041a929c%2fhudson yards 3

Facebook is reportedly in talks with the developers of the Hudson Yards megaproject to lease 500,000 square feet of office space. According to Bloomberg, this will take the tech giant’s total presence in the development to a massive 1.5 million square feet.

The majority of the space Facebook plans to expand into will be at 50 Hudson Yards, which is set to become one of the priciest office towers in the city. The Investment Management and Financial Planning company BlackRock has also already signed a lease for 850,000 square feet in the building where they plan to move their headquarters, and it is reported that Facebook's interest in the building killed a prospective deal with the law firm Debevoise & Plimpton, which was negotiating 45,000 square feet there. But as this 2.9-million-square-foot building is still under construction and is not due to be completed until 2022, sources say that the tech company has been looking to obtain space that they can occupy immediately.

Facebook already has several office spaces located across New York including those at 335 Madison Avenue and the Wanamaker Department Store in the NoHo Historic District, and they have been seeking for several months a property suitable for immediate expansion. Back in December last year, they had reportedly been considering space at One Madison Avenue, and in June this year, they considered 15 Penn Plaza as a prospective location.

However, it appears that Facebook has decided instead to expand their holdings in Hudson Yards and the new contract, is for 500,000 square feet of space situated in two locations. One will be in 30 Hudson Yards, the 100-story mixed-use building at 10th Avenue and 33rd Street, designed by Bill Pedersen. Here, Facebook will be housed alongside other big names like CNN, Warner Bros. and HBO. The rest of the leased space will be at 55 Hudson Yards, the 1.3-million-square-foot office building designed by A Eugene Kohn, which stands at the intersection of Hudson Yards, the High Line, and Hudson Park and Boulevard.

Facebook is not the only tech company which is expanding its locations in the New York area. Google currently has over 8,000 workers based in the city, and recently purchased the Milk Building. This eight-story building will provide them with a further 325,000 square feet of retail and office space and is connected, via a sky bridge, to the Chelsea Market which the company purchased from the same seller, Jamestown, last year. A Google spokesman, William Floyd, commented after the purchase that the tech giant plans “to double our presence in New York over the next 10 years.”

Another tech giant, Amazon recently rejected their plans to construct a second headquarters in Queens, due mainly to opposition from community organizers and local politicians. But the company is reportedly in talks to rent up to 1 million square feet of office space in Brooklyn's Industrial City. They are also considering other options for properties that will increase their capacity for fast product deliveries to the city, and they may also be looking at a Manhattan West megaproject, located right across from Hudson Yards.

With tech companies continuing to expand their operations in NYC, the city may soon surpass Silicon Valley as the nation's biggest tech hub. 


Mentioned neighborhoods

Hudson Yards

Blog Archive


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2021 REBNY Listing Service, Inc. All rights reserved. RLS IDX Data display by Elegran LLC. IDX information is provided exclusively for consumers’ personal, non- commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Elegran LLC may or may not be the exclusive listing agent of the properties being displayed on Elegran.com. All data displayed on Elegran.com is presented for informational purposes only and should be independently confirmed by all customers. All Information is compiled from both public and private sources including, but not limited to the RLS, MLS and ACRIS; each of which is assumed to be reliable. All information displayed is subject to errors and omissions regarding apartment specifications and final sale prices, and further, any unit listed may have had its listing withdrawn without notice subsequent to such information being compiled. No representation is made as to the accuracy of any description (ie: listing, close sale data, and/or building description) of any building or individual unit. All measurements and square footage are approximate and all information herein should be confirmed by customer and/or their attorney. Elegran LLC, its members, affiliates, and contributors adhere to New Your City, New York State, and United States Fair Housing Laws.