{"id":1004053150,"date":"2012-06-15T06:27:33","date_gmt":"2012-06-15T14:27:33","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=52525"},"modified":"2022-12-05T15:09:55","modified_gmt":"2022-12-05T23:09:55","slug":"two-media-giants-scouting-for-office-space-in-nyc","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/two-media-giants-scouting-for-office-space-in-nyc\/","title":{"rendered":"Two Media Giants Scouting for Office Space in NYC"},"content":{"rendered":"<p style=\"text-align: justify\">By Veronica Grecu, Associate Editor<\/p>\n<p style=\"text-align: justify\">Remember when Silicon Valley was the designated location for tech companies? Well, things are about to change as media giants\u2019 quest for new office space in Downtown Manhattan reaches new heights.<\/p>\n<p style=\"text-align: justify\">Some undisclosed sources quoted by <em>Reuters<\/em> revealed that Menlo Park, California-based Facebook Inc. (FB.O) and Redmond, Wash.-based Microsoft Corp. (MSFT.O) are looking to expand their footprint in New York City, as well as consolidate their presence on the West coast.<\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/FBNY-office.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-52527\" title=\"FBNY office\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/FBNY-office.jpg\" alt=\"\" width=\"200\" height=\"300\" \/><\/a>Facebook, the world\u2019s largest and fastest-growing social networking company, opened its first engineering center in New York City in early 2012. The new location added to the company\u2019s existing 40,000-square-foot local office at 335 Madison Ave.,\u00a0 where it signed a 15-year lease agreement in December 2010.<\/p>\n<p style=\"text-align: justify\">According to <em>Reuters<\/em>\u2019 sources, Facebook is now looking for a bigger office of 100,000 to 150,000 square feet. One possible location could be the former New York Times Building at 229 West 43<sup>rd<\/sup> St.<\/p>\n<p style=\"text-align: justify\">The same building was taken into account by Microsoft, which is looking for a new office space of around 200,000 square feet. The company\u2019s current New York office at 1290 Avenue of the Americas is only 174,000 square feet, and the lease agreement will expire in 2014.<\/p>\n<p style=\"text-align: justify\">Serkan Piantino, the leader of Facebook\u2019s New York engineering office, was quoted by <em>Wired <\/em>as saying that the reason why Silicon Valley is no longer seen as a Mecca for techies is that the Big Apple still holds the reins of fashion, media and finance\u2014not to mention the large pool of software engineers who would not have to relocate outside their beloved city.<\/p>\n<p style=\"text-align: justify\"><em>Image courtesy of Facebook Engineering NYC Community Pages<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Veronica Grecu, Associate Editor Remember when Silicon Valley was the designated location for tech companies? Well, things are about to change as media giants&rsquo; quest for new office space in Downtown Manhattan reaches new heights. Some undisclosed sources quoted by Reuters revealed that Menlo Park, California-based Facebook Inc. (FB.O) and Redmond, Wash.-based Microsoft Corp. [&#8230;]<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600,21742],"tags":[1815],"class_list":["post-1004053150","post","type-post","status-publish","format-standard","hentry","category-new-york","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Two Media Giants Scouting for Office Space in NYC - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/two-media-giants-scouting-for-office-space-in-nyc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two Media Giants Scouting for Office Space in NYC\" \/>\n<meta property=\"og:description\" content=\"By Veronica Grecu, Associate Editor Remember when Silicon Valley was the designated location for tech companies? Well, things are about to change as media giants&rsquo; quest for new office space in Downtown Manhattan reaches new heights. Some undisclosed sources quoted by Reuters revealed that Menlo Park, California-based Facebook Inc. (FB.O) and Redmond, Wash.-based Microsoft Corp. 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