NEW YORK CITY-Brokers who work in the white hot Midtown South submarket are bound to hit “like” when they hear this story.
Social media giant Facebook has agreed to exercise its right to expand its footprint at 770 Broadway by adding another 60,000 square feet to its East Village offices, according to Crain's New York Business. Media representatives for the tenant and landlord Vornado Realty Trust did not respond to requests for comment by press time.
Facebook leased 100,000 square feet at the building less than a year ago and included a 60,000-square-foot expansion provision in the lease. The company was expected to seize upon that after two years but apparently the tech and media boom in Midtown South pushed the company to act sooner.
Spanning the entire block between East 8th and 9th streets from Broadway to Lafayette street, 770 sits across from 51 Astor Place, the new 400,000-square-foot office building that has attracted its own share of technology tenants. The two properties apparently have tussled over tenants, including Facebook when the firm was first looking for space.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
