REPORT: Facebook Considering Leasing Floors On Broadway In NYC

Sources said Facebook is looking at leasing the seventh and eighth floors of a building on Broadway in New York, but it’s unclear whether or not the company is expanding its New York office or moving to this locale. Crain’s New York Business noted that Facebook has been negotiating to lease 160,000 square feet in the building, which clothing retailer J. Crew also calls home.

Crain’s reports that Facebook is considering the seventh and eighth floors of 770 Broadway. Currently, the company’s 150,000-square-foot New York headquarters is at 335 Madison Ave., which it leased in late 2010. That office houses ad and sales staff, but Facebook also started adding programmers, designers, and engineers.

Crain’s writer Daniel Geiger notes that the deal isn’t done yet, and Facebook could still reconsider:

Several sources say Facebook has been looking for expansion space in Manhattan for months, and that executives at the company wanted an outpost in Silicon Alley, the nickname given to midtown south, as it has attracted dozens of tech companies and startups in recent years.

If Facebook completes the deal, it would come at a time when other tech companies have begun to flee midtown south as occupancy levels and rents have risen precipitously there. Yahoo, for instance, just signed a large lease to move into the old New York Times Building on West 43rd Street, between Seventh and Eighth avenues. Microsoft earlier this year committed to a deal to relocate its headquarters from 1290 Sixth Ave., another tower owned by Vornado, to 11 Times Square.

 

Related Stories
Mediabistro Course

Blogging: Analytics, SEO, and Content

Blogging: Analytics, SEO, and ContentWork with the former marketing director at Conde Nast Digital to improve your search rankings, integrate social, and increase traffic to your blog! Starting November 5, Jim Hopkinson will teach you how to analyze KPIs, monetize your blog through ads, sponsorships, and affiliates, and leverage your blog toward a larger platform such as publishing, speaking, or consulting. Register now!