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New York & Tri-State  + Office  |  August 8, 2019
Paul Bubny
By: Paul Bubny

Facebook Nears Mega-Lease at Hudson Yards

Add Facebook to the roster of tech giants looking to dramatically step up their New York City presence. It’s negotiating to lease 1.5 million square feet or more at Hudson Yards, Crain’s New York Business reported.

Facebook would take the bulk of the space at 50 Hudson Yards, a 1,000-foot tower now under development by Related and Oxford Properties Group and scheduled for completion in 2022.

The company is also in discussions to take additional square footage at the neighboring office towers, 30 Hudson Yards and 55 Hudson Yards, which are both complete. This would give Facebook space in which to set up operations while 50 Hudson Yards is under construction.

Facebook had previously considered a major lease at SL Green Realty Corporation’s One Madison Ave. redevelopment. However, Crain’s reported, a phone call from Related CEO Jeff Blau to Facebook COO Sheryl Sandberg led to a tour of Hudson Yards.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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