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Facebook in Talks to Take More Space at Manhattan's Hudson Yards

The social media giant could sign a lease for 1.5 million sq. ft. at the project.

(Bloomberg)—Facebook Inc. is in talks to take on a much bigger lease at Manhattan’s Hudson Yards, giving the social media company space across three buildings at the $25 billion mega-project, according to people with knowledge of the matter.

The deal could involve some 1.5 million square feet (139,000 square meters), about 50% more than was previously reported, said the people, who asked not to be identified discussing the private negotiations. While much of the space would be at 50 Hudson Yards -- a 2.9 million-square-foot tower being built by Related Cos. and Oxford Properties Group -- Facebook is also looking at 30 Hudson Yards and 55 Hudson Yards, the people said.

Having space at the two finished buildings would give Facebook a location while it waits for the larger tower to be completed in 2022. It would also mark another dramatic push by a tech company into New York’s office market. In recent months, Google has added significantly to its footprint in the city. Inc. has also continued to look for space, even after abandoning plans for a second headquarters in Queens earlier this year.

Facebook, Related and Oxford declined to comment. The potentially larger lease was reported earlier Wednesday by Crain’s New York Business.

To contact the reporters on this story: Noah Buhayar in Seattle at [email protected];

Natalie Wong in Toronto at [email protected].

To contact the editors responsible for this story: Debarati Roy at [email protected]

Christine Maurus

© 2019 Bloomberg L.P.

TAGS: Leasing
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