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Apple signs lease at Vornado’s 11 Penn Plaza
Tech giants are continuing their takeover of New York City. Facebook has leased Hudson Yards space and is eyeing Midtown, Google is expanding its Meatpacking District and Hudson Square footprint, and Netflix is expected to bring production space to Brooklyn. Now, the New York Post reports that Apple has signed a lease to move into Midtown’s 11 Penn Plaza.
The company has signed a five-year deal (with the possibility to extend their lease) to move into the 11th through 14th floors (220,000 square feet) of the Art Deco building, owned by Vornado Realty Trust, according to the Post. Macy’s, which currently occupies some of those floors, still has a lease through 2035 (though they’re reportedly moving their headquarters to Long Island City).
But, as the Post says, the company’s short lease may imply that they’re still on the hunt for space. The California-based tech giant is already leasing 52,000 square feet at 100-104 Fifth Avenue in Flatiron.
And in other news...
- Related and Amtrak are pursuing a federal loan that would pave the way to build the second half of Hudson Yards.
- A developer has sued the city for its plan to require special hotel permits south of Union Square.
- Homeowners in NYC neighborhoods like Canarsie fear changes to FEMA’s National Flood Insurance Program could push them out.
- The Trump administration’s proposed HUD budget cuts threaten NYC public housing upgrades and rent subsidies.
- Manhattan Community Board 2 issued a resolution to demand the Department of Transportation to reallocate curb space to avoid things like double-parking on roadways.
- NYC’s subway will soon be getting “open gangway” cars similar to the ones in London and Paris.
- A judge ruled in favor of a community lawsuit to halt contested Two Bridges towers.
- And finally, wonder what NYC looked like in 1911? Look at this recently colorized footage: