Facebook Inc. is negotiating a lease for the entire 740,000-square-foot office space at the Farley Building being redeveloped by Vornado Realty Trust in New York City, the New York Post reported, citing sources.
The property, formerly known as the James A. Farley Post Office building, is expected to open in 2020 after a gut renovation.
Sources with knowledge of the discussions told the publication that the talks with Facebook are in advanced stages, thwarting plans by the U.S. division of Japanese advertising company Dentsu Inc. to occupy the fourth floor.
The potential lease at the Farley Building is in addition to other office spaces being considered by Facebook at the nearby Hudson Yards buildings, sources reportedly said.
Facebook and Dentsu did not respond to requests for comment, according to the Post.
