![]() Lately, Meta garnered headlines for the spaces it backed out of: terminating its lease of more than 200,000 square feet at 225 Park Avenue South, in the heart of the tech-dominated Midtown South market, and backing out of a planned 300,000-square-foot expansion at 770 Broadway, its original beachhead in the Big Apple. Meta has also committed to 1.2 million square feet at nearby 50 Hudson Yards 265,000 at 30 Hudson Yards, the skyscraper whose other tenants include KKR, Wells Fargo and Warner Bros., with the Edge outdoor observation deck and 57,000 square feet at 55 Hudson Yards, according to data from Compstak, a research firm that tracks commercial real estate. Reeves said the Farley space was attractive to Meta because of its easy accessibility, given its proximity to America’s busiest commuter and passenger rail station, not to mention the 13 subway lines that run either into Penn Station or within a block of it. Customer appetite for the function, too, has yet to be proven, according to the story. Meta’s initiatives have drawn “a resounding ‘meh’ from the public” with the investment seen as risky by some analysts. There are indications that Zuckerberg’s foray into the metaverse isn’t going so well, having poured $15 billion into the project, according to an October story in Business Insider. The hundreds of thousands of square feet of office space on the second floor in the rear of the building is all on one level, making it unique in the city. He wanted to use the Farley Building as a commuter rail station because it was designed by the firm Mead, McKim & White, which designed the original Penn Station. There remains a possibility that Meta, as one of America’s tech giants, might see New York as its East Coast headquarters and build a huge campus here, the way Google (GOOGL) did on Manhattan’s lower West Side and Amazon tried to do in Long Island City, Queens, until widespread opposition made it stop.Īs of now, Meta is in the Farley Building, just west of Penn Station and Madison Square Garden, and also home of Moynihan Station, named for the late Sen. ![]() “Meta does not have any additional expansion plans at this time,” company spokeswoman Jamila Reeves said in an email in reference to New York City.Īnyone who follows presidential politics knows that those last three words - “at this time” - are a large enough caveat to drive a truck through. Given its chieftain’s comments, would it limit its appetite for the city’s office space, or would it continue to grow here? With almost all of its business establishment reckoning with a workforce no longer compelled to commute to the office, the comment sent a shiver down the spines of New York City’s landlords, and led to Meta becoming one of New York’s most-watched companies. In 2020, at the height of COVID, Zuckerberg said on a live-streamed feed that as many as half of his employees would work from home within a decade, according to The New York Times. Then, of course, there was the pandemic, which seemed to rush into existence trends that were already apparent to those in the know, such as the ability to do jobs on laptops ready to be plugged in anywhere, not just in the office. The move prompted a late 2021 name-change for the company, to Meta Platforms Inc., and Facebook became a mere subsidiary alongside Instagram, WhatsApp and others. The company also had to become overseer of the “metaverse,” that virtual world that exists only in computers and computer-like instruments such as smartphones, virtual reality headsets, and devices yet to be made commercially available. No, Zuckerberg decided that wasn’t enough. SEE ALSO: City Council Adopts Madison Square Garden’s 5-Year Special Permit
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