Apple searching for 750,000 square feet of Manhattan office space
The search by Apple for office space in Manhattan could lead to a considerable presence in New York City, with the iPhone maker allegedly looking for as much as 750,000 square feet of space for some of its operations.
Apple has been on the hunt for a location in Manhattan for its offices for some months now, with reports from February suggesting it was in "advanced negotiations" for a 60,000-square-foot office at 55 Hudson Yards. A new report claims the search is still on, with Apple having ambitions to acquire an even larger office space.
According to sources of TheRealDeal, Apple is looking for office space in the borough between 200,000 and 500,000 square feet in size. The space it could secure may even end up bigger, with one source suggesting up to 750,000 square feet was desired.
To keep that 750,000 square feet in perspective, that is nearly identical to the area of 13 US Football fields. Apple Park has 2.5 million square feet of employee space, excluding the donut hole and other green spaces on the campus.
AppleInsider confirmed the real estate hunt in New York City with sources inside Apple corporate not authorized to speak on the matter. However, we could not confirm how much the company was looking for.
It is believed Apple has already tapped the usual list of properties that could offer a space that large, including 50 Hudson Yards controlled by the Related Companies and Oxford Properties Group, the Related and Vornado Realty Trust's Farley Post Office redevelopment, and SL Green Realty's One Madison Avenue.
Apple currently leases approximately 45,000 square feet at Kaufman Organization's 100-104 Fifth Avenue, which it has occupied since 2011.
Apple is not the only tech giant trying to secure large amounts of office space in New York City. Facebook already has a considerable presence in New York, but is in talks to lease up to 1.5 million square feet at 50 Hudson Yards.
A similar story can be said about Google and Amazon, with the search company finalizing a 1.8 million square foot lease at St John's Terminal in Hudson Square, while the retailer is looking to lease 400,000 square feet at 460 West 34th Street.
Apple has been on the hunt for a location in Manhattan for its offices for some months now, with reports from February suggesting it was in "advanced negotiations" for a 60,000-square-foot office at 55 Hudson Yards. A new report claims the search is still on, with Apple having ambitions to acquire an even larger office space.
According to sources of TheRealDeal, Apple is looking for office space in the borough between 200,000 and 500,000 square feet in size. The space it could secure may even end up bigger, with one source suggesting up to 750,000 square feet was desired.
To keep that 750,000 square feet in perspective, that is nearly identical to the area of 13 US Football fields. Apple Park has 2.5 million square feet of employee space, excluding the donut hole and other green spaces on the campus.
AppleInsider confirmed the real estate hunt in New York City with sources inside Apple corporate not authorized to speak on the matter. However, we could not confirm how much the company was looking for.
It is believed Apple has already tapped the usual list of properties that could offer a space that large, including 50 Hudson Yards controlled by the Related Companies and Oxford Properties Group, the Related and Vornado Realty Trust's Farley Post Office redevelopment, and SL Green Realty's One Madison Avenue.
Apple currently leases approximately 45,000 square feet at Kaufman Organization's 100-104 Fifth Avenue, which it has occupied since 2011.
Apple is not the only tech giant trying to secure large amounts of office space in New York City. Facebook already has a considerable presence in New York, but is in talks to lease up to 1.5 million square feet at 50 Hudson Yards.
A similar story can be said about Google and Amazon, with the search company finalizing a 1.8 million square foot lease at St John's Terminal in Hudson Square, while the retailer is looking to lease 400,000 square feet at 460 West 34th Street.
Comments
So those who are left without a convenient apartment or condo in Manhattan will have to find their new home addresses outside — Such as Bronx, Staten Island, Brooklyn, Queens, Jersey City, Hoboken, or Weehawken, Westchester. This means there will be thousands more passengers added to the already congested MTA, Metro-North, LIRR, NJT, and PATH trying to commute to the Apple office in Manhattan.
I'm sure they want the best price that they can on the deeds. It just isn't the Amazon tax benefits bid-thing.
By the way, there's a popular hybrid of apples called Empire apples, invented in New York State in 1966, which are a cross between the Mcintosh (yes, I spelled that correctly) and Red Delicious apples. Quite a marketing potential there for Apple.
Apple also would no doubt like to expand business leasing, and their business customer base, NY is a good place to do that.
Can you see Apple expanding into banks, banking terminals/ATMs, trading platforms etc...? Leveraging their emphasis on security...
Apple Server is dead, but maybe a cloud data center. I remember reading for trading you want to be close to wherever NASDAQ’s severs are...
There’s also the crazy idea of Apple eventually going private. Could you do it with 10-20 huge institutional owners/investors? Apple doesn’t really need to be a public company, and all the hassles that come along with it. A larger NY presence would help them grow those contacts.
Apple isn’t going to be in an expensive area (NY) just to be one of the “cool kids” there’s a long term strategy in here somewhere.
https://daringfireball.net/linked/2019/02/25/ritholtz-amazon-hq2
Corporate welfare deals don’t always work*, so Bezos bailed.
* no personal helicopter pad, aw..
Thank you for your comment and for letting everyone that read know how little empathy you have as a human being, especially to those poorer than yourself. Thanks for calling my city a slum, it's not 1978 still in NY however I suspect it may be the 1950s in the fly over state you reside in.
The employees want to live in NYC for the "lifestyle" unfortunately gentrification has turned the city into "anywhere USA".