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Facebook has leased all of the workplace house at the landmark Farley Building, a 1912 Beaux Arts former submit workplace in Manhattan, in a deal that marks a serious growth of the corporate’s enterprise operations within the metropolis.
Terms of the deal weren’t disclosed by Facebook and the property’s majority proprietor, Vornado Realty Trust.
Facebook agreed to lease 730,000 sq. ft at Farley, a constructing that occupies a double-wide block dealing with Ninth Avenue throughout the road from Madison Square Garden, the 2 corporations mentioned in a assertion.
Facebook spokeswoman Jamila Reeves mentioned Farley can be a tech and engineering hub that can permit the corporate to develop groups in New York that earlier than have been positioned within the firm’s San Francisco and Menlo Park headquarters in California.
The leased house within the Farley Building is predicted to open in late 2021, Reeves mentioned. Manhattan is Facebook’s largest operation on the East Coast, with simply over 4,000 workers, greater than half of whom are engineers, she mentioned.
The lease reinforces New York’s place because the nation’s second tech hub, mentioned Steven Roth, chairman and chief government of Vornado.
Spokeswomen for each Facebook and Vornado declined to debate specifics of the deal, lengthy heralded by media.
© Thomson Reuters 2020
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