Facebook Closing In On Nearly 2M SF At Hudson Yards
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Facebook is reportedly in talks for a massive spread at a collection of Hudson Yards skyscrapers.
Reports emerged in June that the social networking giant was negotiating for more than 1M SF at three Hudson Yards buildings — but the actual lease size is 1.5M SF, Crain’s New York Business reports.
One source told the publication the tech behemoth could expand to 1.8M SF for a massive new headquarters. The majority of the space would be at 50 Hudson Yards, the 2.9M SF, $3.8B office building still under construction at the Far West Side megaproject.
While 50 Hudson Yards is under construction, Facebook could sign deals at nearby 30 Hudson Yards and 55 Hudson Yards, which are already complete and have fewer availabilities. Related is developing 50 Hudson Yards with Oxford Properties — Mitsui Fudosan acquired a 90% equity stake in 2017 — and it is set to be complete in 2022.
Facebook was close to finalizing a deal at SL Green’s One Madison Avenue, but Crain's reports Related CEO Jeff Blau called Facebook Chief Operating Officer Sheryl Sandberg and leaned on her until she was convinced to move Facebook to the monolithic office tower.
Facebook already has offices at 770 Broadway and 335 Madison Ave. and has been searching the city to expand its footprint.
Law firm Debevoise & Plimpton was also reportedly close to taking 450K SF at 50 Hudson Yards, but Facebook’s interest in the building reportedly killed that deal. BlackRock is the anchor tenant at 50 Hudson Yards, having signed an 850K SF lease to move its headquarters to the building in 2016.