Wednesday, February 14, 2018

Here's more about Facebook's takeover of Kmart's 2nd floor at 770 Broadway

[EVG photo from January]

As you may know, Kmart recently vacated the second floor at 770 Broadway, the landmarked building on Astor Place.

The three-level store had recently condensed its wares to the main floor and lower level — reportedly to allow for Facebook to expand its presence (by 78,000 square feet) in the building.

The Commercial Observer has more on the deal, announced during landlord Vornado Realty Trust's fourth quarter earnings call yesterday.

Per the Observer:

The deal grows Facebook’s total footprint at the building to 513,000 square feet, Vornado Chairman and Chief Executive Officer Steven Roth said on the earnings call.

The space was made available for Facebook after Vornado bought Kmart out of its lease on the floor, which Roth said had 18 years remaining at rents of $33.50 per square foot. Kmart still has 82,000 square feet at 770 Broadway.

Yes, but do they still have pajamas?

Previously on EV Grieve:
Kmart staying on Astor Place, minus the 2nd floor (for Facebook?)


Anonymous said...

EV Grieve - you make me laugh ! Pajamas !

Happy Valentines Day !

blue glass said...

km is going to have a bathroom again?
that could be a good thing
while it is very convenient it was getting harder and harder to find things there

2nd Ave Silver Panther said...

Yes! We have no pajamas!