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Facebook leases all of the office space at The Farley Building in NYC, formerly the Post Office Building

Facebook leases all of the office space at The Farley Building, managed by Vornado Realty Trust

Through a press release issued on August 3, 2020, Vornado Realty Trust announced that the social-media tech giant, Facebook, has leased 730,000 square feet of space at The Farley Building in New York City, previously known as the James A. Farley Post Office Building. Related Press Release can be seen farther down on this page.

The structure, located in midtown Manhattan encompasses the space from 31st to 33rd street and from 8th to 9th Avenue.

This comes at a time when the city and the state are reeling from the economic disaster brought on by the COVID-19 crisis. With NYC’s economic recovery at a near standstill, due to restrictions placed upon businesses’ ability to reopen fully, this comes as welcomed and promising news to local leaders.

NY Governor Andrew Cuomo released a statement yesterday:

“Vornado’s and Facebook’s investment in New York and commitment to further putting down roots here – even in the midst of a pandemic – is an important signal to the world that our brightest days are still ahead and we are open for business,” said the Governor.

“This is a significant moment in New York’s road to build back better and stronger and demonstrates our continuing resilience. Once complete, the Penn-Farley complex will be a world-class 21st century transportation, retail and business hub that maintains its extraordinary and historic architectural character. Vornado’s and Facebook’s investment in New York and commitment to further putting down roots here – even in the midst of a global pandemic – is a signal to the world that our brightest days are still ahead and we are open for business. This public-private partnership fortifies New York as an international center of innovation.”

During his press briefing this morning, NYC Mayor de Blasio had the following to say:

“Now, talking about our future. Look, we’ve been through a very tough five months, but I keep talking about why people should never bet against New York City and our strength and our people and our talent. And now we have a really interesting piece of news today that speaks to our future. And a lot of folks have been asking the question, will the business community continue to invest in New York City? What will our future be? Well, we’ve got a piece of information now that I think really speaks to it and it’s a decision made by Facebook to make a major commitment to its presence in New York City. This is extraordinary. And that company has leased all, all of the office space in the James Farley Building, the former Post Office building, the largest Post Office in Manhattan. All of that space now will be part of Facebook’s growing presence in New York City. That will take their job total to almost 10,000 employees in New York City. And this is one company, one company in a crucial sector that has been growing for years and years in New York City, our tech community. As recent as February, over 350,000 people employed in the tech ecosystem in New York City, a big part of our future and what a vote of confidence in our future that Facebook has made this decision. This is the first major new lease for the post-COVID era. And you can see that’s a huge facility. And it will be part of our economic rebirth.”

“So, to everyone, look, the bottom line about New York City has been true for generations. It’s more true than ever. Extraordinary talent here. Extraordinary creativity. If you want to get anything done, come to New York City because this is where it happens. And this is where you will find the talent to make it happen. Businesses all over the country, all over the world are going to be realizing that more and more, but seeing Facebook take the lead will send a message to all the others that this is a smart time to start the reinvestment in New York City.”

Vornado Press Release:

Please note, you can also view Vornado’s Press Releases here…

NEW YORK, Aug. 03, 2020 (GLOBE NEWSWIRE) — Vornado Realty Trust (NYSE: VNO) today announced that Facebook (Nasdaq: FB) has leased 730,000 square feet comprising all of the office space at The Farley Building in Vornado’s PENN DISTRICT.

The Farley Building is a cornerstone of Vornado’s new PENN DISTRICT, where Vornado owns 10 million square feet and is in the midst of a more than $2 billion district-wide transformation of the neighborhood alongside government infrastructure and transportation improvements of more than $3 billion. Farley occupies a double-wide block between 31st and 33rd Streets and stretches from 8th to 9th Avenues. It is adjacent to Penn Station, the busiest transportation hub in the nation, and across the street from Madison Square Garden.

Farley is an iconic Beaux Arts New York City landmark designed by McKim, Mead & White that Vornado is converting into a state-of-the-art, mixed-use development featuring best-in-class creative office space, while retaining the rich history of the building’s original design. Farley’s large floorplates offer a horizontal campus unique to Manhattan and similar to tech offices in Silicon Valley. The full complex will include Facebook’s office space; the majestic Moynihan Train Hall; and 120,000 square feet of retail space with food and beverage, full-service restaurants and curated lifestyle brands. The project is expected to be completed in phases beginning by year-end 2020.

Steven Roth, Chairman and Chief Executive Officer of Vornado, commented, “We are delighted to welcome Facebook to The Farley Building, a property like no other in New York City. Facebook’s commitment to Farley expands our long-standing relationship and advances our vision for the PENN DISTRICT, the new epicenter of Manhattan. Facebook’s commitment is a further testament to New York City’s extraordinary talent and reinforces New York’s position as the nation’s second tech hub.”

“Facebook first joined New York’s vibrant business and tech community in 2007. Since that time, we’ve continuously grown and expanded our presence throughout the city. The Farley Building will further anchor our New York footprint and create a dedicated hub for our tech and engineering teams. We look forward to being a part of this iconic New York City landmark’s future for years to come,” said Robert Cookson, VP of Real Estate and Facilities, Americas, EMEA and APAC at Facebook.

Vornado’s transformation of the PENN DISTRICT is well underway, anchored by the previously announced redevelopments of Farley, PENN 1 and PENN 2. Renderings of the Farley redevelopment and additional information on the PENN DISTRICT are available at https://www.vno.com/penn-district.

In New York City, in addition to The Farley Building, Facebook leases office space at Vornado’s 770 Broadway and in nearby Hudson Yards. The Farley development is owned 95 percent by Vornado and 5 percent by The Related Companies.

Founded in 2004, Facebook’s mission is to give people the power to build community and bring the world closer together. People use Facebook’s apps and technologies to connect with friends and family, find communities and grow businesses.

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