Facebook May Be Coming to NYC’s West Side as Early as 2020September 30, 2019 by Sami Boutaleb
Facebook is looking to expand and they’re eyeing Vornado Realty Trust’s dramatic revamp of the historic Midtown post office. Tech giants are noticeably increasing their presence in the Big Apple to attract the top-notch talent that graduates from schools such as Columbia University and New York University. This deal is big for New York City, Manhattan’s West Side and New York City students looking to work in the Big Apple after they graduate.
As seen on the NY Post, tech giants such as Google and Amazon are also in talks to increase their NYC footprint. This competition spurs economic development for all sectors, including and especially Real Estate.
The property in question here was originally named the James A. Farley post office. Facebook is looking to scoop up all 740,000 square feet of office space. We know from previous projects that Facebook will likely incorporate study halls, meditation areas, cafeteria halls and much more in order to provide a balanced work experience for their top talent.
Vornado Realty Trust, lead by Steven Roth, look to complete their revamp of the Farley building by as early as 2020. The building is conveniently situated next to large transit hubs such as Penn Station and major NYC landmarks such as Madison Square Garden.
It was previously believed that Facebook was after property in Hudson Yards, however it now seems likely that the Tech giant might move forward with both spots. Upon renovation completion, Facebook will occupy floors 2 and up, as well as a fifth floor that will be added during the renovation process, and will feature outdoor green areas.
The renovation plans by Steven Roth look to keep the exterior intact, preserving the beautiful Romanesque Revival architectural style. In the early 2000s, Roth attempted to connect Penn Station and the Farley building, a move that was reportedly worth $14 billion, however those plans were squashed during the Spitzer administration’s scandal.
If all goes through this time, Roth will have earned a dependable tenant and the city of New York will have many years of positive economic development on Manhattan’s West Side.