Not To Be Outdone, Facebook Is Looking At Its Own Major NYC Expansion

Courtesy of Kohn Pedersen Fox Associates
A Rendering Of Sl Green's One Madison Avenue Office Project In Manhattan

Two of the world's five bellwether tech companies have announced major expansions in New York in the last two months, and a third is looking at a Big Apple move of its own.

Facebook is in talks to lease SL Green’s One Madison Ave. tower, an indication the tech giant is expanding more in Manhattan. It is not clear how much space it is considering at the planned redevelopment at Madison and Park avenues between 23rd and 24th streets in the tech-savvy Midtown South neighborhood, the New York Post reports.

Right now, Facebook leases 758K SF at 770 Broadway and another 266K SF at 225 Park Ave. South. Facebook was reportedly close to inking a lease that would give it 870K SF across the entire office portion of 63 Madison Ave. in NoMad. However, the Post reports that deal may not be going ahead.

Earlier this month, SL Green revealed its development plans for One Madison Ave., which will be designed by Kohn Pedersen Fox and Gensler and co-developed by Hines — the same team responsible for the One Vanderbilt supertall in Midtown. Once complete, One Madison Ave. will be almost 1.5M SF. Construction will start in in 2020 or 2021 when current leases expire.

Credit Suisse is currently in the building and is moving out, according to the Post.

Amazon’s decision to build half of its HQ2 in Long Island City and Google’s recently announced plans to create a 1.7M SF campus in Hudson Square, in addition to Facebook's growing presence have led many to tout New York City as a true rival to the West Coast as a tech epicenter.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

1,300 Projects Potentially Paused Due To Suspension Of Quality Inspectors

Center City Office Demand Starts Spilling From Trophy To Class-A Despite Debt Issues

EXCLUSIVE: Georgia-Pacific Scraps Conversion Plans For Its Atlanta HQ

Walker & Dunlop On Why The Housing Market Is More Balanced Than It Appears

Y'all Street Powers Trophy Office Momentum In Uptown Dallas

Baby Boomers Help Push Atlanta Medical Space Rents Above Traditional Office

U.S. Office Sales Show 31% Year-Over-Year Growth

Mamdani Administration Applauds Transfer Of 3 Distressed Rent-Stabilized Buildings

Burlington Moving HQ To Philly, Buys Office Building For $240M

In Booming Silicon Valley, Architecture Firm Revel Meets Clients Where They Are

What New York Can Learn From California's Push To Cut Environmental Red Tape

Miami Is 'Desperate' For A New Office Tower. It's About To Get 2