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Facebook just signed a lease for 730,000 sq ft of office space in MFH Midtown
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Poast new message in this thread
Date: August 3rd, 2020 5:13 PM Author: Lilac vivacious corn cake point https://www.globenewswire.com/news-release/2020/08/03/2071977/0/en/Facebook-Leases-730-000-Square-Feet-at-Vornado-s-Farley-Building.html
NEW YORK, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) today announced that Facebook (Nasdaq: FB) has leased 730,000 square feet comprising all of the office space at The Farley Building in Vornado’s PENN DISTRICT.
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Date: August 3rd, 2020 5:34 PM Author: Narrow-minded trust fund Something is happening. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40701525) |
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Date: August 3rd, 2020 6:26 PM Author: startled meetinghouse sex offender What is it? (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40701793) |
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Date: August 4th, 2020 9:12 AM Author: Curious spot It isn’t exactly clear. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704166) |
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Date: August 4th, 2020 9:18 AM Author: Buck-toothed blood rage (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704179) |
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Date: August 4th, 2020 9:34 AM Author: Irradiated rose place of business juggernaut There's a man with a feed over there (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704251) |
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Date: August 6th, 2020 1:23 PM Author: Curious spot (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40715173) |
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Date: August 6th, 2020 2:44 PM Author: smoky mischievous office (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40715609) |
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Date: August 4th, 2020 9:35 AM Author: Scarlet Maniacal Police Squad Nursing Home (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704256) |
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Date: August 3rd, 2020 6:30 PM Author: Bateful lodge it's not going to be complete until end of 2020 per the article (so probably more like mid-2021) and should be enough space to allow employees to come back to the office with enough social distancing, maybe? (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40701822) |
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Date: August 3rd, 2020 6:35 PM Author: zippy space macaca Shrewd (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40701851) |
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Date: August 3rd, 2020 6:37 PM Author: Purple Electric New Version Probably had a rock bottom basement price (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40701855) |
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Date: August 4th, 2020 9:12 AM Author: Curious spot I desperately want to know the price (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704164) |
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Date: August 4th, 2020 9:13 AM Author: Lilac vivacious corn cake point doubt it was that low. they leased out the whole building (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704167) |
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Date: August 4th, 2020 9:18 AM Author: Curious spot Commercial RE rents in MFH are expected to drop something like 50% next year from 2018. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704178) |
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Date: August 4th, 2020 9:36 AM Author: Scarlet Maniacal Police Squad Nursing Home It was definitely low.
The landlord prob heard it was FB and gave them a rock bottom price to lock them in for 5 years and then he can raise it back up when the world is normal again. But this way he doesn't risk being empty ITE for another year.
Plus it's FB, they will be good for the money. |
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Date: August 4th, 2020 9:44 AM Author: Lilac vivacious corn cake point i dunno. the landlord's stock is up 3.5% in morning trading on the news. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704290) |
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Date: August 4th, 2020 9:48 AM Author: Scarlet Maniacal Police Squad Nursing Home LOL at the stock market being reflective of sound business practices. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704313) |
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Date: August 4th, 2020 9:08 AM Author: Lilac vivacious corn cake point (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704154) |
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Date: August 4th, 2020 9:12 AM Author: peach disrespectful bbw degenerate They probably got a really good deal (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704165) |
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Date: August 4th, 2020 9:31 AM Author: smoky mischievous office weird. they're wfh for the next year, why wouldn't they wait until the market gets worse? (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704234) |
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Date: August 4th, 2020 9:33 AM Author: Curious spot We don’t know why they paid. It could be a five year $25/sqft lease. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704245) |
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Date: August 4th, 2020 9:39 AM Author: smoky mischievous office yeah maybe now was the best moment because of the uncertainty. if they waited until the vaccine, things could snap back. also this owner must have been in deep shit if they leased out the entire thing, i.e. the entire thing was available. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704268) |
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Date: August 4th, 2020 9:43 AM Author: Lilac vivacious corn cake point the entire space was available because it was just renovated.
the owner is a well-capitalized publicly traded company, they're not in deep shit, LOL. |
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Date: August 4th, 2020 9:46 AM Author: Curious spot Their stock is down 45% on the year. They aren’t doing well.
My bet is that they have done an analysis of the landscape, and realized it isn’t getting better, so they may as well start collecting rent from someone who they know will pay, even if it isn’t a lot of rent. |
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Date: August 4th, 2020 9:49 AM Author: Scarlet Maniacal Police Squad Nursing Home This is definitely it and why FB would plunk down anything for a place they assume they won't be able to use until Q1 2021 at the earliest. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704314) |
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Date: August 4th, 2020 9:50 AM Author: Sinister stage mad-dog skullcap so they can lay off a bunch of people and replace them with workers willing to head into the office/move to a corporate office despite all of the virus shit (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704321) |
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Date: August 4th, 2020 9:54 AM Author: smoky mischievous office yeah, all those desperate people from the bronx and queens taking their tech talents to facebook. (http://www.autoadmit.com/thread.php?thread_id=4596982&forum_id=2#40704335) |
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