Facebook pushes ahead with NYC Farley project in bet on offices

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, 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 in 2022.

Last year, Meta signed a lease for the redeveloped Farley Building across from Pennsylvania Station. It was the largest New York office deal in 2020. The company will occupy 730,000 square feet at the former post office and employees will begin relocating there next year