The Real Deal New York

Facebook expands at Vornado’s 770 Broadway

Social media giant will add 80K sf to its ever-growing footprint
February 06, 2015 02:30PM

Facebook signed a lease that will add 80,000 square feet to its existing Greenwich Village office at Vornado Realty Trust’s 770 Broadway in a deal priced at more than $100 per square foot.

The social media titan will take the entire 15th floor, the building’s penthouse space. The lease brings Facebook’s total space in the building to 270,000 square feet — almost triple the 100,000 square feet that it originally signed on for in May 2013, Crain’s reported. The new lease expires in 2024.

Sources told the website that Facebook is paying over $100 per square foot, which would be 20 to 30 percent more than the rents it signed on for two years ago. Facebook’s growth in the building has occurred little by little. Last March, it added 60,000 square feet, and later in the year it added a smaller space.

Bob Tunis of Colliers International and Warren Wixen of Wixen Real Estate represented Facebook, while a Vornado team led by Glen Weiss represented the landlord in-house.

In November, Facebook unveiled a new Frank Gehry-designed space in the building. [Crain’s] — Tess Hofmann