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Tuesday, June 4, 2013

Facebook Finds New Office in New York

Facebook Offices 770 Broadway, NY
Facebook offices in New York

Just last month, Yahoo announced they would be unifying all their New York offices into one large office in Times Square, and now this week Facebook has announced they signed a 10 year lease at 770 Broadway taking 100,000 square feet. Some of their neighbors will be companies like AOL and Huffington Post, which are based in the same building. 

This new space is almost twice as big as the one their current 200 employees occupy at 335 Madison Avenue.

Just as financial companies were the big players of New York’s real estate industry a few years ago, today tech companies are taking over. 

The city knows that, and it has contributed with $100 million and 11 acres of public land toward an applied sciences campus on Roosevelt Island, a joint venture between Cornell University and Technion-Israel Institute of Technology slated to open in 2017.

New York has also promoted the creation of a regulation that attracts startups as well as tech professionals to consider New York their home. 

In 2010 there were 90,273 people working at high-tech companies in the city, a 30% increase from 2005, according to a report last year from the Center for an Urban Future, and there were 486 tech startups formed in the city since 2007 that have received some investment from angel investors, venture capital firms or other private investors. The city’s aggressive strategy is showing fruitful results. 

As for the areas that companies prefer, while Yahoo opted for the busy Times Square area, LinkedIn preferred a landmark and went for the Empire State building, Google chose Chelsea and many others like About.com, Nielsen Communications, 10gen and Sandow Media have decided to take advantage of the low prices and rent an office Downtown New York.

Facebook employees are expected to move to their new office in early 2014. The best news is there are executive suites in 770 Broadway and you can also be one of Facebook neighbors!

Give us a call at (866) 354-5478 and we’ll help you create your own office list of options.

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