This would make for an annoying episode of Million Dollar Listings New York: Facebook is reportedly looking to leave its Midtown offices and head south to 770 Broadway. Crain’s reports that Zuck & Co. are negotiating to rent the seventh and eighth floors at the East Village building.
Facebook is currently leasing 150,000 square feet at its 335 Madison Ave. offices, which houses advertising and sales staff. However, as the company beefs up its New York operation with engineers and programmers, it’s probably outgrowing that space. The new office, which is in the same building as J.Crew, Aol and the Huffington Post, is 10,000 square feet larger.
Facebook’s decamping is part of a bigger trend, as companies look to relocate to cheaper areas as rents rise in tech-heavy parts of the city.
Crain’s notes that a deal has not yet been finalized, but Facebook is indeed looking to grow in the city:
Several sources say Facebook has been looking for expansion space in Manhattan for months and that executives at the company wanted an outpost in Silicon Alley, the nickname given to midtown south as it has attracted dozens of tech companies and startups in recent years.
Facebook didn’t return comment to the publication. Maybe Zuck’s busy mulling the design of his East Coast man cave.