Facebook leased all its office space in New York at the Farley Building landmark, a 1912 Beaux-Arts former post office in Manhattan, which is a deal that will show a huge expansion of the company’s business in the city.
Facebook has yet to reveal the details of the deal. Vornado Realty Trust is the majority owner of the property.
In a statement, it shows that Facebook has agreed to lease 730,000 square feet of the building which holds a double-wide block facing Ninth Avenue across the street from Madison Square Garden.
Jamila Reeves, a Facebook spokesperson said Farley will be a hub for tech and engineering which will let the company expand teams in New York that were previously found in San Francisco and Menlo Park headquarters of the company.
Reeves said it is expected for the leased building space to be open in late 2021. In the East Coast, Manhattan is Facebook’s largest operation, holding above 4,000 employees, more than 50% of which are engineers.
The chairman and chief executive of Vornado, Steven Roth said that this move will strengthen New York’s position as the country’s second tech hub.
Both Facebook and Vornado’s spokeswoman have refused to explain details regarding the deal.