Jhoon
Spontaneous Mishaps and Hijinks
I think I remember him being for the corporate handout.
AOC was right. Amazon, Twitter, and Facebook are moving to NYC anyways WITHOUT tax incentive
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[Something Cool]
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Good question, I haven’t looked too much into it since I’m not effected by it. All I know is that it was projected to bring in 27.5 billion in revenue over the next 25 years but those projections are usually bullshyt. Plus how it would affect housing costs, but is there even affordable housing in NYC anywhere?
well i wanted the shyt to be built...i just didn't see amazon back tracking like this.
Jhoon
Spontaneous Mishaps and Hijinks
It’s probably fair to say that the state’s employee numbers were horseshyt too.
Jhoon
Spontaneous Mishaps and Hijinks
We all want shyt to be built. But at what cost and to whom bear the financial burden?
didn't deny that..i just thought the tax breaks were relatively small considering all the stuff amazon wanted over time.
i knew they'd always pull a move like this, but this soon was kinda shocking
Jhoon
Spontaneous Mishaps and Hijinks
Nap, you thought that clown ran a masterclass.
Your intelligence was indicted and you’ve been convicted of worst poster of the year numerously.
Tax breaks were small. What a moron.
On another positive note
Facebook in Talks for New York Office, in Deal Making Company One of City’s Largest
Technology giants continue to expand in city since Amazon canceled plans for second headquarters
The Farley Building, which sits across Eighth Avenue from Penn Station in Midtown Manhattan, is being converted into offices as part of a planned complex with retail space and a train hall.PHOTO: CLAUDIO PAPAPIETRO FOR THE WALL STREET JOURNAL
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By
Keiko Morris
Updated Dec. 6, 2019 2:37 pm ET
NEW YORK— Facebook Inc. is in talks to lease a landmark Manhattan building in a deal that would make it one of New York City’s largest corporate tenants and help offset the lack ofAmazon.com Inc. ’s second headquarters earlier planned for the city.
The social-media giant has its eye on about 700,000 square feet of space at the Farley Building, a vast post office from 1912 undergoing mixed-use redevelopment in Midtown Manhattan, people familiar with the discussions said. That new space would be in addition to Facebook’s recent deal to lease 1.5 million square feet at the new Hudson Yards development, which the company announced last month.
A lease at Farley and at the nearby Hudson Yards, combined with its existing offices in the city, would bring Facebook’s total footprint to more than 3 million square feet of New York office space. That would catapult the company into the top ranks of the city’s largest corporate tenants, putting it in the same category as companies including JPMorgan Chase & Co. andBank of America Corp. , which have had a major presence in New York for years.
If the Farley deal is completed, the leases would create space for more than 14,000 Facebook employees, according to rough estimates by real estate consultants. Before Amazon stunned New York’s business community in February by canceling plans for a second-headquarters project in Long Island City, Queens, it had said it aimed to create some 25,000 new jobs in the area over time.
Many of the largest U.S. tech companies have been scrambling for the most prized office buildings downtown and along the Hudson River, and their expansion is remaking swaths of Manhattan. Tech, advertising and media companies have been the biggest occupiers of Manhattan office space this year, according to real estate services firm Newmark Group Inc.
Many of the new tech deals have been reached without significant incentives or extra tax breaks.
At Hudson Yards, Facebook didn’t get any direct city or state financial inducements, such as additional tax credits, such as were included in the controversial, $3 billion package offered to Amazon. It isn’t known what inducements, if any, Facebook would receive for the Farley Building move.
A number of executives had warned that Amazon’s about-face would discourage other major tech companies from considering the city. Instead, tech interest has only grown. AlphabetInc. ’s Google, Apple Inc. and Spotify Technology SA have scooped up office space over the last two years. Others with a strong presence in the city are looking to expand—including Amazon. The retail giant also looked at the Farley Building, which owner Vornado Realty Trust is converting into offices and will be part of a complex with retail space and a train hall across from Penn Station.
In New York City, “Google is forming its own community and campus,” said Victor Rodriguez, associate director of analytics at CoStar GroupInc., a real-estate data firm. “Amazon wanted to do that with a new headquarters, but that didn’t work out…It looks like Facebook wants to do something similar.”
SHARE YOUR THOUGHTS
Is it a wise business idea for Facebook to invest on a large space in New York? Why or why not? Join the conversation below.
New York is emerging as an East Coast hub for technology because of the size of its labor force, its extensive transportation system and the cultural and entertainment activities that come with a big city, analysts and real-estate executives said.
It’s hard to predict future growth, but we believe New York is a vibrant market with a tremendous pool of talent,” a Facebook spokeswoman said in an emailed statement.
It’s clear the main reason Amazon wanted to be here was the availability of a skilled tech workforce plus the synergy with related industries,” said James Parrott, an economist at the New School. “And New York City still retains that attraction.”
New York’s average annual tech-sector job growth between 2009 and 2018 increased at a pace almost four times as fast as the city’s overall private job growth, according to Mr. Parrott’s analysis.
The rise in tech professionals, who typically earn well over $100,000 a year, has helped fuel job expansion in rental housing, restaurants, car services and personal services such as fitness trainers. The number of for-hire vehicle drivers in 2018 was 120,000—four times what it was in 2014, Mr. Parrott said. He added that part of the city’s Uber and Lyft traffic can be attributed to tech workers using those ride-hailing services.
The tech interest is also providing a welcome boost to the city’s office market at a time when other businesses have hesitated to expand. That is good news for office owners who are expecting about 22 million square feet of new space to be completed between now and 2023, according to Newmark Group.
It is also helping to counter the effects of turmoil at WeWork. The co-working company decided to put aside initial-public-offering plans and has been cutting back demand for leases after its rapid growth made it the largest occupier of Manhattan office space.
Facebook’s most recent deal at Hudson Yards was for 1.5 million square feet of space, which could accommodate as many as 10,000 employees, according to broker estimates. That news followed Google’s deal to lease 1.3 million square feet at a converted former freight terminal in lower Manhattan, part of the company’s plan to add some 7,000 in staff in the city over 10 years.
The growing tech appetite is already having a spillover effect, creating new opportunities for other projects. Tokyo-based advertising and public relations firm Dentsu Inc. had been close to a deal at the Farley Building but was bumped when Facebook showed interest, according to people familiar with the discussions
Technology giants continue to expand in city since Amazon canceled plans for second headquarters
The Farley Building, which sits across Eighth Avenue from Penn Station in Midtown Manhattan, is being converted into offices as part of a planned complex with retail space and a train hall.PHOTO: CLAUDIO PAPAPIETRO FOR THE WALL STREET JOURNAL
SHARE
By
Keiko Morris
Updated Dec. 6, 2019 2:37 pm ET
NEW YORK— Facebook Inc. is in talks to lease a landmark Manhattan building in a deal that would make it one of New York City’s largest corporate tenants and help offset the lack ofAmazon.com Inc. ’s second headquarters earlier planned for the city.
The social-media giant has its eye on about 700,000 square feet of space at the Farley Building, a vast post office from 1912 undergoing mixed-use redevelopment in Midtown Manhattan, people familiar with the discussions said. That new space would be in addition to Facebook’s recent deal to lease 1.5 million square feet at the new Hudson Yards development, which the company announced last month.
A lease at Farley and at the nearby Hudson Yards, combined with its existing offices in the city, would bring Facebook’s total footprint to more than 3 million square feet of New York office space. That would catapult the company into the top ranks of the city’s largest corporate tenants, putting it in the same category as companies including JPMorgan Chase & Co. andBank of America Corp. , which have had a major presence in New York for years.
If the Farley deal is completed, the leases would create space for more than 14,000 Facebook employees, according to rough estimates by real estate consultants. Before Amazon stunned New York’s business community in February by canceling plans for a second-headquarters project in Long Island City, Queens, it had said it aimed to create some 25,000 new jobs in the area over time.
Many of the largest U.S. tech companies have been scrambling for the most prized office buildings downtown and along the Hudson River, and their expansion is remaking swaths of Manhattan. Tech, advertising and media companies have been the biggest occupiers of Manhattan office space this year, according to real estate services firm Newmark Group Inc.
Many of the new tech deals have been reached without significant incentives or extra tax breaks.
At Hudson Yards, Facebook didn’t get any direct city or state financial inducements, such as additional tax credits, such as were included in the controversial, $3 billion package offered to Amazon. It isn’t known what inducements, if any, Facebook would receive for the Farley Building move.
A number of executives had warned that Amazon’s about-face would discourage other major tech companies from considering the city. Instead, tech interest has only grown. AlphabetInc. ’s Google, Apple Inc. and Spotify Technology SA have scooped up office space over the last two years. Others with a strong presence in the city are looking to expand—including Amazon. The retail giant also looked at the Farley Building, which owner Vornado Realty Trust is converting into offices and will be part of a complex with retail space and a train hall across from Penn Station.
In New York City, “Google is forming its own community and campus,” said Victor Rodriguez, associate director of analytics at CoStar GroupInc., a real-estate data firm. “Amazon wanted to do that with a new headquarters, but that didn’t work out…It looks like Facebook wants to do something similar.”
SHARE YOUR THOUGHTS
Is it a wise business idea for Facebook to invest on a large space in New York? Why or why not? Join the conversation below.
New York is emerging as an East Coast hub for technology because of the size of its labor force, its extensive transportation system and the cultural and entertainment activities that come with a big city, analysts and real-estate executives said.
It’s hard to predict future growth, but we believe New York is a vibrant market with a tremendous pool of talent,” a Facebook spokeswoman said in an emailed statement.
It’s clear the main reason Amazon wanted to be here was the availability of a skilled tech workforce plus the synergy with related industries,” said James Parrott, an economist at the New School. “And New York City still retains that attraction.”
New York’s average annual tech-sector job growth between 2009 and 2018 increased at a pace almost four times as fast as the city’s overall private job growth, according to Mr. Parrott’s analysis.
The rise in tech professionals, who typically earn well over $100,000 a year, has helped fuel job expansion in rental housing, restaurants, car services and personal services such as fitness trainers. The number of for-hire vehicle drivers in 2018 was 120,000—four times what it was in 2014, Mr. Parrott said. He added that part of the city’s Uber and Lyft traffic can be attributed to tech workers using those ride-hailing services.
The tech interest is also providing a welcome boost to the city’s office market at a time when other businesses have hesitated to expand. That is good news for office owners who are expecting about 22 million square feet of new space to be completed between now and 2023, according to Newmark Group.
It is also helping to counter the effects of turmoil at WeWork. The co-working company decided to put aside initial-public-offering plans and has been cutting back demand for leases after its rapid growth made it the largest occupier of Manhattan office space.
Facebook’s most recent deal at Hudson Yards was for 1.5 million square feet of space, which could accommodate as many as 10,000 employees, according to broker estimates. That news followed Google’s deal to lease 1.3 million square feet at a converted former freight terminal in lower Manhattan, part of the company’s plan to add some 7,000 in staff in the city over 10 years.
The growing tech appetite is already having a spillover effect, creating new opportunities for other projects. Tokyo-based advertising and public relations firm Dentsu Inc. had been close to a deal at the Farley Building but was bumped when Facebook showed interest, according to people familiar with the discussions
NyC is gonna be so unliveable in the 2020s.
John Reena
Superstar
AOC an idiot. She gonna be a one term phenom lol
When they give them a tax break.you know damn well its gonna expand past 1500 people
Chess not checkers.
Out yourself as The Donald poster with your first sentence
Right-wing idiots love questioning her intelligence even though she's a genius compared to their Dear Leader.
Next post will definitely mention she was a bartender
Interesting enough
Don’t let anyone tell you the people in power are that much more capable then you because these dummies (Cuomo) were about to mortgage the city’s future to pay these dudes to come here when it’s common sense they would come ANYWAY. Top talent wants to live in major cities like NYC, Chicago, DC, ATL, LA and SF these firms are gonna put themselves there if they plan on attracting long term workers. They need the city. Not the other way around. ESPECIALLY when it comes to New York City.