Facebook moves from Midtown to — Midtown

Facebook has swapped its old office at 551 Fifth Avenue between 45th and 46th streets for a new 11,119-square-foot office space just a few blocks away, at 340 Madison Avenue between 43rd and 44th streets. A Facebook representative said that they moved for purely practical reasons. “As we expanded our team in New York, we simply outgrew our old space,” Meredith Chin, a Facebook spokesperson, said. Daniel Katcher of Newmark Knight Frank, who represented sublandlord Sunguard, described the space as “a nice mix between corporate, tech and loft offices” that will primarily house Facebook’s sales team. Broadway Partners purchased the 340 Madison Avenue building in 2006 for $550 million.