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