Related Cos., Cushman & Wakefield bring Facebook to Hudson Yards: 1.522 million s/f

Manhattan, NY Hudson Yards completed a lease with Facebook for 1.522 million s/f of office space across 30 floors and three buildings. 

The lease deal includes: 

• 1.2 million s/f at 50 Hudson Yards;
• 265,000 s/f at 30 Hudson Yards; and 
• 57,000 s/f at 55 Hudson Yards. 

30 Hudson Yards was developed by Related Cos. and Oxford Properties Group. 50 and 55 Hudson Yards were developed by Related Cos., Mitsui Fudosan America and Oxford Properties Group. Cushman & Wakefield represented Facebook in the transaction while Related handled the negotiations in-house.

Jeff Blau, CEO of Related Cos. said, “This is an extraordinary commitment to New York City and Hudson Yards. Hudson Yards continues to be a magnet for talent, attracting the greatest companies across every sector of the economy. We are thrilled to welcome Facebook and its employees to their new park-front offices where they will enjoy the convenience of a truly dynamic live-work-play environment.”

John Tenanes, VP of global facilities and real estate for Facebook said, “New York’s vibrant communities, strong business economy and diverse talent base first attracted us to the city in 2007. When considering the next phase of our growth in the city, it was important that our newest office space was situated in the heart of a vibrant community that offered access to arts, culture, media and commerce. Hudson Yards offered this and more, and we’re excited to expand our offices there starting in 2020.” 

Dean Shapiro, head of U.S. development for Oxford Properties Group said, “Hudson Yards continues to cement its reputation as a destination of choice for employers looking to gain an edge in the war for talent. The array of world-class companies that have been attracted to the project will ensure we are building a vibrant new employment hub for New York. We are proud to be partnering with Facebook to create the workplace of the future for its employees; a place that provides world-class amenities across food, entertainment, retail, arts and culture right on its doorstep.”

30 Hudson Yards is fully committed, 55 Hudson Yards is 99% committed and 50 Hudson Yards, anchored by BlackRock, is now 75% leased two and half years prior to occupancy. Over eight million s/f have been leased or sold at Hudson Yards bringing the overall leasing commitments to 91% of the development.