Apple searching for 750,000 square feet of Manhattan office space

Posted:
in General Discussion edited August 15
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.

Manhattan


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.
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Comments

  • Reply 1 of 32
    neilmneilm Posts: 638member
    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.

    Manhattan


    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 sin
    If you figure maybe 250-300 sq ft per employee, including common areas, that’s a whole lot of people. NYC  real estate is of course very pricey, and the Hudson Yards development is at the high end of that.
  • Reply 2 of 32
    freediverxfreediverx Posts: 1,408member
    Well, Epstein's place recently became available...
    bigtdsmwhiterazorpittyler82fastasleep
  • Reply 3 of 32
    Well, Epstein's place recently became available...
    I hope Apple doesn’t get AOC-ed. 
    bigtdsmwhiterazorpit
  • Reply 4 of 32
    Mike WuertheleMike Wuerthele Posts: 4,871administrator
    Well, Epstein's place recently became available...
    I hope Apple doesn’t get AOC-ed. 
    Given that Apple is looking for real estate, and not a sweetheart tax deal from a bizarre bidding process, this seems unlikely.
    danielchowbill42StrangeDaysronntyler82fastasleep
  • Reply 5 of 32
    Very probably that many of the staff will be quite well paid, but they still will not be able to easily afford living on Manhattan. It is not sustainable. There are still some “affordable” places in this borough, but many will be competing for those spaces which are already overpriced to begin with. 

    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. 
    edited August 15
  • Reply 6 of 32
    Apple. please stay in California, New Yorkers just defeated Amazon from taking over Queens and destroying that borough. Hudson Yards is one of the biggest examples of corporate handouts in history. Public (as in taxpayer owned property) land was gifted to developers  by our corrupt Mayor with little benefit to New Yorkers and a boom for the 1%. We now have a 1980's version of Dallas sitting on the westside filled with luxury shopping mall stores which nobody shops at or asked for. When huge companies like Apple move here they worsen the housing shortage, raise rents for apartment dwellers and small to medium size businesses. Facebook and Google have invaded my neighborhood and now a tidal wave of tech companies want to follow. We are fighting the cities efforts to rezone our avenues to keep glass towers at bay and preserve our history and culture. Apple stay in sunny California in some nice vacuumed sealed minimalist glass box and leave our grimly, lively, diverse city alone. 
    danielchow
  • Reply 7 of 32
    Well, Epstein's place recently became available...
    I hope Apple doesn’t get AOC-ed. 
    Given that Apple is looking for real estate, and not a sweetheart tax deal from a bizarre bidding process, this seems unlikely.
    You are fooling yourself if you think Apple is not looking for a sweetheart deal. That's what giant corporations always do. 
    beowulfschmidt
  • Reply 8 of 32
    mobirdmobird Posts: 268member
    spice-boy said:
    We now have a 1980's version of Dallas sitting on the westside...
    Would you please explain what you mean by this comment?
  • Reply 9 of 32
    Mike WuertheleMike Wuerthele Posts: 4,871administrator
    spice-boy said:
    Well, Epstein's place recently became available...
    I hope Apple doesn’t get AOC-ed. 
    Given that Apple is looking for real estate, and not a sweetheart tax deal from a bizarre bidding process, this seems unlikely.
    You are fooling yourself if you think Apple is not looking for a sweetheart deal. That's what giant corporations always do. 
    You misunderstand. This is not a "hey, we want to build a headquarters here, and we're seeking the best tax package we can" from the NY government.

    I'm sure they want the best price that they can on the deeds. It just isn't the Amazon tax benefits bid-thing.
    StrangeDaysronntyler82
  • Reply 10 of 32
    750,000 sq feet sounds like a lot (i.e., 13 US football fields) but it works out to only 25 of the Empire State Building's 102 floors. (The Empire State building has 3 million square feet.) And at the lower end of the estimate (200,000 sq ft) that works out to only 7 floors of the Empire State Building.

    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. 

  • Reply 11 of 32
    1st1st Posts: 392member
    within Manhattan for such a lorge footage is not easy - just step outside to fishkill, Ex IBM plants might be just big enough and easy to commute if Apple bus (with autopliot) good enough for some minor twist and turns.  IMHO.  close enough to NY city, far enough to prevent lost of few souls over night at Broadway ;-).  
    razorpit
  • Reply 12 of 32
    mobird said:
    spice-boy said:
    We now have a 1980's version of Dallas sitting on the westside...
    Would you please explain what you mean by this comment?
    I guess that you are not old enough to have seen the TV Series Dallas (No, I didn't shoot JR).
    That portraid a way of life that was pure escapism for most of us but some people lived that sort of life for real. Conspicious consumption was Rule 1. Just like many with homes in the Hamptons really...

    I really can't fathom why Apple would want to ever locate in the same building a FaceBook. There are plenty more locations in the continental USA where they could go and not get charged two arms and three legs for renting a room with a view.
  • Reply 13 of 32
    Mike WuertheleMike Wuerthele Posts: 4,871administrator
    750,000 sq feet sounds like a lot (i.e., 13 US football fields) but it works out to only 25 of the Empire State Building's 102 floors. (The Empire State building has 3 million square feet.) And at the lower end of the estimate (200,000 sq ft) that works out to only 7 floors of the Empire State Building.

    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. 

    Yeah, only a quarter of the building. No big deal :D
    razorpit
  • Reply 14 of 32
    mike1mike1 Posts: 1,923member
    spice-boy said:
    Apple. please stay in California, New Yorkers just defeated Amazon from taking over Queens and destroying that borough. Hudson Yards is one of the biggest examples of corporate handouts in history. Public (as in taxpayer owned property) land was gifted to developers  by our corrupt Mayor with little benefit to New Yorkers and a boom for the 1%. We now have a 1980's version of Dallas sitting on the westside filled with luxury shopping mall stores which nobody shops at or asked for. When huge companies like Apple move here they worsen the housing shortage, raise rents for apartment dwellers and small to medium size businesses. Facebook and Google have invaded my neighborhood and now a tidal wave of tech companies want to follow. We are fighting the cities efforts to rezone our avenues to keep glass towers at bay and preserve our history and culture. Apple stay in sunny California in some nice vacuumed sealed minimalist glass box and leave our grimly, lively, diverse city alone. 
    Oh, please. Nothing like a little economic improvement to stir up those who would prefer that our cities remain slums. Wouldn't want those high-paying jobs and revitalized neighborhoods now. Simple fact is if you can't afford to live there, move.
    tyler82
  • Reply 15 of 32
    Can’t help but think this is related to Apple’s growth into financial products...Apple Pay, Apple Card.

    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.
  • Reply 16 of 32
    mobird said:
    spice-boy said:
    We now have a 1980's version of Dallas sitting on the westside...
    Would you please explain what you mean by this comment?
    a cluster of corporate boxy glass towers none unique or architectually significant, built within short time with little to no planning. 

  • Reply 17 of 32
    StrangeDaysStrangeDays Posts: 8,546member
    Well, Epstein's place recently became available...
    I hope Apple doesn’t get AOC-ed. 
    They won’t because no one did. That’s a myth. 

    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..
    edited August 15 ronntyler82
  • Reply 18 of 32

    mike1 said:
    spice-boy said:
    Apple. please stay in California, New Yorkers just defeated Amazon from taking over Queens and destroying that borough. Hudson Yards is one of the biggest examples of corporate handouts in history. Public (as in taxpayer owned property) land was gifted to developers  by our corrupt Mayor with little benefit to New Yorkers and a boom for the 1%. We now have a 1980's version of Dallas sitting on the westside filled with luxury shopping mall stores which nobody shops at or asked for. When huge companies like Apple move here they worsen the housing shortage, raise rents for apartment dwellers and small to medium size businesses. Facebook and Google have invaded my neighborhood and now a tidal wave of tech companies want to follow. We are fighting the cities efforts to rezone our avenues to keep glass towers at bay and preserve our history and culture. Apple stay in sunny California in some nice vacuumed sealed minimalist glass box and leave our grimly, lively, diverse city alone. 
    Oh, please. Nothing like a little economic improvement to stir up those who would prefer that our cities remain slums. Wouldn't want those high-paying jobs and revitalized neighborhoods now. Simple fact is if you can't afford to live there, move.
    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. 
     
    ronnmuthuk_vanalingamaaarrrgggh
  • Reply 19 of 32
    StrangeDaysStrangeDays Posts: 8,546member
    spice-boy said:
    Apple stay in sunny California in some nice vacuumed sealed minimalist glass box and leave our grimly, lively, diverse city alone. 
    Maybe you weren’t paying attention all the years AHQ was being built, but it’s not vacuum sealed. It circulates outside air for much less energy use than normal AC-cooled buildings. Does yours? My offices haven’t. 
    radarthekattyler82
  • Reply 20 of 32

    mobird said:
    spice-boy said:
    We now have a 1980's version of Dallas sitting on the westside...
    Would you please explain what you mean by this comment?
    I guess that you are not old enough to have seen the TV Series Dallas (No, I didn't shoot JR).
    That portraid a way of life that was pure escapism for most of us but some people lived that sort of life for real. Conspicious consumption was Rule 1. Just like many with homes in the Hamptons really...

    I really can't fathom why Apple would want to ever locate in the same building a FaceBook. There are plenty more locations in the continental USA where they could go and not get charged two arms and three legs for renting a room with a view.
    The employees want to live in NYC for the "lifestyle" unfortunately gentrification has turned the city into "anywhere USA". 
    tyler82
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