Apple is on the hunt for big new offices in Manhattan, aiming to increase its footprint in the New York City area.
According to a new report, Apple is searching for up to 750,000 square feet of office space. It has already looked at some of the most prestigious locations in the area. As of now, however, it’s not yet locked anything down.
“Apple’s checked out the usual suspects of properties on the short list for most companies with assignments of that size, including the Related Companies and Oxford Properties Group’s 50 Hudson Yards, Related and Vornado Realty Trust’s Farley Post Office redevelopment and SL Green Realty’s One Madison Avenue, sources said.”
Apple has hired an outside team to carry out the search. At a minimum, it’s looking for 200,000 square feet of space. But it seems likely that it will be more than that. While Apple hasn’t officially commented, sources say that the space will be used to accommodate new hires that Apple plans to make.
Growing in the Big Apple
Despite being known as, well, the Big Apple, Apple actually has a relatively limited presence in New York. It’s the last of the big FAANG tech giants (Facebook, Amazon, Apple, Netflix and Google) to scale up its presence there.
Apple currently leases around 45,000 square feet in the Flatiron District. It opened its office at 100-104 Fifth Avenue in 2011, the year Tim Cook took over as Apple CEO.
Facebook, Google and Amazon each already have several hundred thousand square feet of NY office space. “They’re all competing with one another for the choicest properties – sometimes bumping their rivals,” the TheRealDeal report notes.
Even if Apple does find offices measuring 750,000 square feet, it won’t be the biggest tech offices in NYC. Facebook is reportedly considering leasing 1.5 million square feet. Meanwhile, Google recently finalized a deal for 1.8 million square feet of office space.
Still, 750,000 square feet of prime Manhattan real estate’s not bad for an up-and-coming startup like Apple, eh?