Meta pushes ahead with Farley project in New York
It’s been a bright spot for a New York office market that has been hit hard by the pandemic: Technology companies have continued to sign leases in Manhattan even as employees work remotely.
That includes Meta Platforms Inc, formerly known as Facebook Inc, which is betting on offices despite the disruptions caused by the pandemic.
While many companies have reduced their space, the social-media giant is expanding in New York, with a goal of bringing workers back early this year.
In 2020, Meta signed a lease for the redeveloped Farley Building across from Pennsylvania Station. It was the largest New York office deal in the year.
The company will occupy 730,000 square feet (67,800 square metres) at the former post office and employees will begin relocating there this year.
Vornado Realty Trust, a major Manhattan landlord, developed the space, which is a central piece of a new technology and finance corridor that is taking shape just west of Madison Square Garden.
That includes Hudson Yards, where Meta already has an office and is renovating additional space with plans to move more people there in 2022.
Bloomberg got a tour of the new offices, which will be fitted with game and music rooms, art installations, libraries, cafes and expansive outdoor terraces.
The Farley Building, built in 1912, features 18 foot-high ceilings, large windows and a wraparound roof terrace for events.
Farley, a registered historic landmark, retains its original elevator banks, which Meta will convert into 1,500-square-foot libraries to be “focus areas” for employees. Desks will be situated in clusters near windows where natural light will filter in, while meeting spaces will be closer to the center of the floorplans.
The company’s office at 30 Hudson Yards, which features a cafe and event spaces, has 360-degree views.
The large windows at the Hudson Yards office provide views to the east where One Vanderbilt and the Chrysler Building are visible.