Facebook Expanding at 770 Bway
Lauren Elkies Schram March 24, 2014, 6:04 p.m.
Social networking giant Facebook is growing its presence in Midtown South by adding 60,000 square feet to its lease at Vornado Realty Trust‘s 770 Broadway.
The additional square footage brings Facebook’s lease on Broadway between 8th and 9th Streets to 160,000 square feet, Crain’s reported.
The news comes less than a year after the company inked its initial deal at 770 Broadway. Facebook was on part of the seventh and the entire eighth floor, but now will occupy the entire seventh and eighth floors.
Rents in the 15-story building are in the mid-$70s per square foot.
Paul Ippolito, a broker at Newmark Grubb Knight Frank, reportedly represented Facebook in the lease. He declined to comment to Commercial Observer.