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Facebook inks massive office lease

Facebook has officially signed a 730,000-square-foot lease to take the entire office portion of Vornado’s redevelopment of the Farley Building at 421 Eighth Avenue between Madison Square Garden and Hudson Yards.

  • Dig Deeper: Vornado’s nearly $1.03 billion redevelopment of the former post office calls for adding 120,000-square-feet of retail along with the office space. Related Companies owns a five-percent stake in the project, which will be completed by the end of 2020, CO noted.
  • Actions speak louder than words: Mark Zuckerberg predicted in May that about 50 percent of the company’s workforce will work remotely within a few years… This deal should stop the silly chatter that central office districts are doomed following the COVID pandemic. [NYPost+CO]

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