Facebook is in discussions with Related Companies for at least one million square feet at 50 Hudson Yards, Crain’s New York Business reported. Citing unnamed sources, Crain’s reported that Related passed up another possible large lease, by law firm Debevoise & Plimpton, in favor of Facebook.
The social media giant already has a major Manhattan presence, with offices including 770 Broadway and 335 Madison Ave. Crain’s reported that the company was said to have been in discussions for a large block at 1 Madison Ave., now undergoing redevelopment. Vornado Realty Trust also hinted that it had discussed a lease with Facebook at a tower the REIT plans to build near Penn Station.
As for Debevoise, Crain’s reported that the law firm is looking at Tishman Speyer’s Spiral, an office tower rising near Hudson Yards. It’s also considering Brookfield’s Manhattan West development, 3 World Trade Center and 4 Times Square.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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