Facebook leases around 730,000 sq. ft. of Office Space in Manhattan

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Business

2020-08-19 16:13:26

Marking a major expansion of Facebook's business operation in Manhattan, the company has leased all the office space at the Farley Building, a landmark 1912 Beaux-Arts former post office in the city.

Facebook Inc. and Vornado Realty Trust, a majority owner of the property, did not disclose the terms of the deal.

The two companies, in a statement, informed that Facebook has agreed to lease around 730,000 sq. ft. of space at Farley Building. The building occupies a double-wide block which faces the Ninth Avenue across the street from Madison Square Garden.

Jamila Reeves, Facebook spokeswoman informed that Farley will become an engineering and tech hub for Facebook which will allow the company to grow and develop its teams in New York City that were earlier located in Facebook's San Francisco and Menlo Park headquarters situated in California.

Jamila Reeves further informed that the leased space in Farley Building is expected to commence in late 2021. She mentioned that Facebook's largest operation on the East Coast is Manhattan which incorporates just over 4000 employees, more than half of whom are engineers.

Chairman and Chief Executive of Vornado Realty Trust stated that the fresh deal reinforces New York Citys’ position as the second tech hub of the nation.

-Bhakti Nikalje

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