Facebook Expands, Hunts for New Office Spaces in NY

Facebook is currently hunting for a 500,000-square-foot space in its attempt to expand in its company office in New York City, sources of recent reports say.

Well, expecting this social media giant to seek for giant spaces for their company is already a given. The Real Deal even reveals that Facebook has been considering a space in one of the office towers currently being constructed in the Hudson Yards.

Founded by Mark Zuckerberg, this $300 billion company has been reportedly negotiating with the Related Cos. as well as with Vornado Realty Trust, Facebook's current landlord on their desire to move to another location.

Being the largest tenant at Vornado's 770 Broadway in the Greenwich Village, Facebook has been adding space for the company since it first positioned in a 100,000-square-foot space in 2013, as per Crain's New York Business. To date, the company's space at the 15-story building has a total of 295,000 square feet, the source added.

Despite its already large company housing in a 1.6 million-square-foot property at the 770 Broadway, the Internet giant continues to look for a larger space, allowing growth for the company, as per brokers.

Moreover, Crain's said that Vornado is helping Facebook develop a space near Penn Station or other locations. Recent reports say that the World Trade Center could be a conducive space for Facebook should the 500,000 square feet be pushed through.

The search for another large space in New York is still on so Facebook may not move sooner or just anytime. Other tech companies like Google have been rapidly expanding in the city and Facebook's expansion may possibly follow in due time.

As a matter of fact, just this February, Facebook has housed its largest office in Southern California, specifically at the Playa Jefferson campus at 12777 West Jefferson Boulevard, Playa Vista, closing a 35,000-square-foot lease deal with Vantage Property Investors, another business landlord, according The Real Deal Los Angeles.

While still hunting for another place for expansion, Facebook is currently on business with other tenants, such as AOL in Vornado.