Sunday, February 8, 2015

Status update: Facebook signs the priciest deal ever for Midtown South in Astor Place

Some news from Friday to note via Crain's.

The social media giant, which has surpassed $200 billion in market value, will add 80,000 square feet at 770 Broadway, the large office building south of Union Square where it first took space almost two years ago.

The building’s rents have risen substantially since then. According to sources, Facebook is paying rates above $100 per square foot for the new space—at least 20% or 30% more than the price of the space it initially leased. Indeed, the deal is among the priciest ever signed in midtown south.

In total, Facebook now rents 270,000 square feet of the 1.2 million-square-foot building on Broadway/Lafayette and East Ninth Street.

Previously on EV Grieve:
Facebook unveils its new office tonight in Midtown South on Astor Place

Facebook is moving into the neighborhood; Midtown South expands its boundaries, apparently

Report: Maps show that Midtown South does NOT include the East Village/Astor Place


Anonymous said...

Now I know why my real estate taxes have doubled over the last four years.

Anonymous said...

Hmm. Hard to tell if the writer thinks he's being "edgy and cool" or if he's just an idiot about NYC neighborhoods.

Anonymous said...

Anon 12:31
you must be a first time visitor if you don't get what "mid-town south" is all about.

Facebook is my least favorite company in the world, it beats out Halliburton. Most Americans have no problem posting all sorts of private and personal information on their pages which has been a gold mine for scammer and online advertisers. Going to a job interview, make sure you clean up you Facebook page before you do because your prospective employer will be checking out. Delete those pictures of you passed out drunk and those tramp stamp tattoos. Your info is minded and sold to advertisers directly so expect subscription offers from those cat enthusiast magazines any day now.

Anonymous said...

Facebook is the NSA people voluntarily give all of their information to.

Anonymous said...

Anonymous 12:51, You must be a first-time visitor, or you would know that saying someone is a first-time visitor is already played out.

Richard said...

We're all going to regret making fun of 51 Astor when the sentient data centers stored in these social media corporate headquarters come to life and try to take over the city and only IBM Watson can rise up to save us like a benevolent Gamera defending humanity in a Japanese monster movie.

Anonymous said...

Why they need so many employees? It's a boring site. Majority of the content is provided by users. $200BB? How does that work? Hmm, must be all the advertising and marketing shenanigans. Listen up people, Facebook is in the business of gathering your personal info and selling it to marketers. That's all they are interested in. Shameful stuff really. News flash, one doesn't need Facebook to communicate on the internet. It's today's version of AOL. The internet is such a powerful medium, yet people stick to the "safety" and familiarity of filling out Facebook forms when they want to interact with friends and family. Sad.

Anonymous said...

If there is a shred of dignity left in this neighborhood, and I am not sure there is, the influx of Facebook fuckface employees is sure to annihilate it. The East Village is officially the domain of the man now.

Anonymous said...

just an fyi to all first and non-first timers - "mid-town south" is a police term.


Ken from Ken's Kitchen said...

People toss around the term *gentrification* when much of the time they're talking about *revitalization.*

This is gentrification.

Anonymous said...

@ 12:51
No, not at all.
Only us "edgy and cool" people would ironically refer to this neighb as midtown-south. Was wondering if Crain's writer thought he was one of us cool kids.

Anonymous said...

It's bizarre that FB would need so many employees, given that they make it impossible to actually reach a real human there for any purpose whatsoever!

So now we'll get the onslaught of the mini-Zucks, all of whom will be as entitled and clueless as the man himself. Truly, there goes the neighborhood.

I liked it way better when nobody from "uptown" would bother going anyplace below 14th St.

Anonymous said...

When are they going to start using us as guinea pigs for more mood manipulation studies?

Giovanni said...

In case anyone forgot what the new names are for the area formerly known as the East Village, here's a little refresher:

SoFaBo: South of Facebook

NoFaBo: North of Facebook

ZuckerVille: where Mark Zuckerberg lives, right next to FarmVille.

BroHo: in honor for the residents who have recently moved in from places like Ohio. As in, "Yo bro, you seen my ho?" Also known as WooHooville.

Stuyversy: The merger beween Stuytown and Gramercy into one giant neighborhood with lots of trees, no stores, and thousands of drunk NYU students. You'll know you live there when they raise your rent mid-lease by 50% and you have to move out.

CitiBike City: for the place formerly known as Alphabet City. Avenue A will be Adventure Avenue, B will be Bankster Boulevard, C will be Cupcake Drive, and D will still be Avenue D, since no developer can ever seem to figure out how to gentrify it.

Anonymous said...

giovanni, that was hilarious

Anonymous said...

Bravo, Giovanni!

Anonymous said...

Anon 1:15
Your mother wears army boots, since we are sunken to schoolyard insults.

Anonymous said...

San Loco is the only reason I go into the so-called East Village.

'Area blows, has blown for years.

Please open a place west of or even on Broadway so I don't have to go east of it, San Loco.

J said...

Oh man, Facebook sells ads against the user info it collects... so terrible and so much different than any other website!

Anonymous said...

I like Facebook. It lets me keep up with family members, plus I get a lot of good recipes, and cute pictures of cats.