Facebook has been shopping for more space at Hudson Yards.
The social media giant is in talks to lease Neiman Marcus’s retail space in Hudson Yards, Women’s Wear Daily reported, citing sources.
Related Companies had reportedly been eyeing a plan B for the retailer’s 188,000-square-foot space after Neiman Marcus’ May bankruptcy filing, which would allow it to vacate its shops without penalty. The landlord has been marketing a total of 380,000 square feet at the top of the mall as office.
Facebook, meanwhile, has already leased 1.5 million square feet at 30, 50, and 55 Hudson Yards. It’s also reportedly near a deal to take the full office space at Vornado Realty Trust’s Farley Post office redevelopment nearby.
Read more
Commercial
New York
Related marketing Neiman’s Hudson Yards store as office
Commercial
New York
Neiman Marcus files for bankruptcy, casting uncertainty over Hudson Yards
Commercial
New York
TRD Insights: This is what office tenants are paying to lease up 55 Hudson Yards
The latest potential leases come as CEO Mark Zuckerberg announced that Facebook’s 45,000 workers would shift toward a distributed workforce. The move could see about half the company move to remote work over the next decade.
This month, financing documents associated with 55 Hudson Yards provided a detailed look at the 51-story office tower’s rent roll. Facebook is reportedly paying $116 per square foot for its 56,858 feet of space, coming to a base rent amount of $7.7 million. According to the documents, that rental agreement will expire in 2024. [WWD] — Orion Jones
https://wwd.com/business-news/retail/neimans-hudson-yards-facebook-1203657745/