The main headquarters of social media giant Facebook are located in Silicon Valley. However, there are rumors that Facebook is planning to open up a very big office in New York City. They are currently in negotiations to buy the James A. Farley Post Office. The building is more than one century old and is currently vacant. It is being remodeled and would be ready for Facebook to move into next year if they purchase the property as expected. It has more than 700,000 square feet and is very close to Madison Square Garden. There is no question that it is a prime piece of real estate.
People from Facebook have not released a statement about possibly buying the building. They clearly do not want to comment publicly while the negotiations are still going on. There have been rumors for many months that Facebook was trying to find the ideal New York City building to move into. It looks like they have found it. There is no word about how much the current owner is asking for it or how much Facebook has offered for it. It will be interesting to find out what the sale price ends up being.
Facebook executives have talked openly about opening a second headquarters for the eastern part of the country to be located in New York City. However, nothing ever came of it after the company got involved in various privacy scandals. Talks to buy the building have heated up in recent months. Facebook CEO Mark Zuckerberg was recently on Capitol Hill talking with politicians about various issues concerning his company. He hopes to get lawmakers on his side because he will need their help next year. Facebook is planning on launching their new Libra cryptocurrency at some point in 2020. Therefore, he will need powerful lawmakers to be on board.
The purchase of the old post office building will most likely not be completed for several months. This is assuming that Facebook is able to reach an agreement. It is unclear what departments of the company will be moved into the building. There is a rumor that a major part of the Libra operation will be housed in the building. The building is large enough to house literally dozens of different departments and hundreds of workers. There is no time frame for the sale to go through. The current owner refused to talk about the sale.