Facebook expands office by 60 percent

Social networking giant boosts space less than a year after move to Midtown South

New York /
Mar.March 24, 2014 05:00 PM

Less than a year after moving into its 100,000-square-foot office space, Facebook is adding 60,000 square feet to its Midtown South office.

The social media company now occupies the entire 7th and 8th floors at 770 Broadway, which is owned by Vornado Realty Trust. The $161 billion social networking firm signed a lease in May for the initial 100,000 square feet with the option of expanding after two years, Crain’s reported.

The expedited expansion signals not only the growth of the company, but also the rapid development of the Midtown South market. The number of Facebook employees in its New York offices quadrupled in the past three years, Business Insider reported. Facebook previously occupied 55,000 square feet at its old office at 335 Madison Avenue.

The 15-story, 1.2 million-square-foot building is also home to AOL, TechCrunch NY, Billboard, and Nielsen Business Media, with rents in the $70s per square foot. [Crain’s]Sasha von Oldershausen

(Photo of Mark Zuckerberg from Shutterstock)


Related Articles

arrow_forward_ios
Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)
Facebook close to finalizing Hudson Yards office deal: report
Facebook close to finalizing Hudson Yards office deal: report
Larry Ellison’s investment arm buys Hyatt resort in Lake Tahoe for $345M
Larry Ellison’s investment arm buys Hyatt resort in Lake Tahoe for $345M
Larry Ellison’s investment arm buys Hyatt resort in Lake Tahoe for $345M
Facebook CEO Mark Zuckerberg and 770 Broadway (Getty, VNO)
Facebook still looking for space in NYC
Facebook still looking for space in NYC
Facebook CEO Mark Zuckerberg with 770 Broadway and Hudson Yards (Getty, VNO, iStock)
Facebook’s NYC offices will open to employees in July
Facebook’s NYC offices will open to employees in July
Mark Zuckerberg and Priscilla Chan (Getty, iStock)
Mark Zuckerberg nearly doubles Hawaii real estate holdings
Mark Zuckerberg nearly doubles Hawaii real estate holdings
From left: Vornado Realty Trust’s 11 Penn Plaza and Apple’s Tim Cook, The Farley Post Office building and Facebook’s Mark Zuckerberg, Durst Organization’s One Five One and ByteDance CEO Zhang Yiming (Getty, VNO, SOM, Durst)
Big Tech firms led office leasing in 2020
Big Tech firms led office leasing in 2020
Empire Asset Management CEO Jason Pizer and 360 Park Avenue South. (Getty, 360 Park Avenue South)
Midtown South owner offers big test for post-vaccine Manhattan
Midtown South owner offers big test for post-vaccine Manhattan
Vornado Realty Trust's deal with Facebook leads the list. (Getty, Wikimedia Commons)
NYC’s 10 most valuable office leases of 2020
NYC’s 10 most valuable office leases of 2020
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...