Image of the glass facade of one of the Hudson Yards buildings

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Facebook in Advanced Talks for 1M SF at Hudson Yards

| Commercial Real Estate News, Deals, Leasing, Office| Views: 0

Facebook is reportedly in advanced talks to take over 1 million square feet of Manhattan office space at 50 Hudson Yards. If completed, it will be one of the company’s largest locations in the world, second only to its headquarters in Menlo Park. It will also establish West Side as one of NYC’s most attractive tech hubs.

The 2.9 million-square-foot 50 Hudson Yards is set for completion in 2022, and it will be NYC’s fourth biggest commercial tower. It will feature private sky lobbies and outdoor terraces, with impressive views over the Hudson River. The property, developed by Related Cos. and Oxford Properties Group, is also in the run for becoming one of the city’s most expensive office buildings, at about $4 billion.

Although it is not yet final, the deal with Facebook is so close that Related pushed aside a 450,000-square-foot lease with the Debevoise & Plimpton law firm. If it goes through, the tech behemoth will join BlackRock, who has already leased 850,000 square feet at 50 Hudson Yards for its corporate headquarters.

Facebook declined to confirm the deal to Crain’s New York Business, who first reported the news. “We constantly reevaluate our facilities needs, and we don’t have anything new to share about our plans in New York at this time,” spokesman Anthony Harrison said. The company’s current Manhattan locations include 770 Broadway and 335 Madison Ave.

If the deal is finalized, the social media company won’t be the only tech giant to take up space in the emerging West Side neighborhood. Amazon inked a 15-year, 360,000-square-foot lease at Brookfield’s 5 Manhattan West in 2017. Moreover, Google has an established presence in Chelsea and the Meatpacking District.

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