Facebook signed a lease for 30 floors of office space in New York’s Hudson Yards
Facebook signed a lease for more than 1.5 million square feet of office space in New York City’s Hudson Yards.
The lease includes 30 floors and three buildings in the luxury commercial and residential development complex, according to a statement released Thursday by Hudson Yards.
The $25 billion complex is located on the west side of Manhattan near the Hudson River and above the rail yards.
The deal is one of the largest real estate transactions in Facebook’s history, according to a statement from Facebook.
Facebook’s New York office is one of its largest and houses teams from all areas of the company, including Instagram, sales, engineering and other business functions, according to the statement. Facebook has yet to determine which teams will relocate to Hudson Yards.
Facebook will expand its offices there starting in 2020, John Tenanes, vice president of Facebook’s global facilities and real estate, said in the Hudson Yards statement.
“New York’s vibrant communities, strong business economy and diverse talent base first attracted us to the city in 2007,” Tenanes said.
The bulk of the leased space will be in 50 Hudson Yards with additional space in 30 and 55 Hudson Yards.
Among the other tenants in Hudson Yards are WarnerMedia, of which CNN is a part, L’Oreal USA, Guardian Life Insurance Co., Wells Fargo Securities and Equinox. There are also more than 100 shops and restaurants.
