Apple Joins Big Tech Rivals In Search For Large Manhattan Office Space
Apple is said to be prowling around New York City for hundreds of thousands of square feet of office space.
The firm is looking for between 200K SF and 750K SF, The Real Deal reports.
On the table for the offering is a who's who of big, new office projects: 50 Hudson Yards, where BlackRock is taking space, Related and Vornado’s Farley Post Office redevelopment and SL Green’s One Madison Ave.
Rumors have been swirling about various tech companies' Big Apple growth plans, and where they intend to plant their office flag. Facebook is said to be on the hunt for space, and there are reports that it is in talks for 1.5M SF at several buildings.
Amazon, which already has 5,000 employees in the city, is also said to be looking for more offices for an expanded headcount. Earlier this week, the New York Post reported that it is looking at 400K SF at SL Green's 460 West 34th St.
Earlier this month, reports emerged that Amazon was considering leasing all or some of the space at WeWork’s Lord & Taylor building, which has been slated for WeWork’s new headquarters. Meanwhile, Google has firmed up plans for a huge new campus at St. John's Terminal in Hudson Square.
On the whole, New York City's office leasing market has been red-hot in recent years. The average rent in Manhattan hit a new record of $80 per SF in the second quarter, according to Transwestern Commercial Services.