Meta Signs 15K-SF Retail Lease at Vornado’s 697 Fifth Avenue

Meta has leased out an entire five-story townhouse in Midtown to hock its wearables.

The parent company of Facebook and Instagram signed a 10-year, 15,000-square-foot lease at Vornado Realty Trust’s 697 Fifth Avenue, according to a Wednesday announcement from the landlord. Meta will use the new space to showcase and sell its virtual reality headsets and smart glasses, the latter of which it manufactures in partnership with Ray-Ban.

Women’s Wear Daily first reported the lease deal.

Vornado did not disclose the asking rent or the names of the brokers on the deal, but the median asking rent for the retail corridor along Fifth Avenue from East 49th to East 59th streets was $2,550 per square foot in the second half of 2025, according to a report from the Real Estate Board of New York. 697 Fifth Avenue sits near the center of this corridor, midblock between East 54th and East 55th streets.

“Our people-first approach to experiential retail is rooted in culture, creativity and self-expression, and it’s driving meaningful sales and awareness of our products,” Matt Jacobson, creative director of wearables at Meta, said in a statement. “Placing our flagship store alongside the brands that help define culture will distinguish Meta Lab from traditional consumer electronics retail.”

The long-term lease also follows on the success of Meta Lab’s 5,000-square-foot pop-up in the same building, which launched in November, according to Vornado and Time Out New York.

“As evidenced by Meta Lab’s immediate and tremendous success during its introductory pop-up at this location, Fifth Avenue remains one of the most attractive retail corridors in the world for today’s most innovative and iconic brands,” Glen Weiss, Vornado’s co-head of real estate, said in a statement.

Meta’s glasses, however, have filled a place of controversy in the public gaze, with some owners using the technology to spy on women in footage posted online. Meanwhile, others have raised concerns about the possibility of Immigration and Customs Enforcement agents using the built-in facial recognition technology in its contentious efforts to remove undocumented immigrants and take retaliation against protestors.

Mark Hallum can be reached at mhallum@commercialobserver.com.