Every big company like Apple is constantly looking for good real estate opportunities to expand its tentacles in cities relevant to its business. New Yorkis undoubtedly central to many of these tech giants. And Apple seems to be eyeing a new location over there.
According to the New York Post, after losing to Facebook a space in the historic Farley Building, Apple is negotiating the lease of offices in Eleven Penn Plaza. building located on 7th Ave, between W 31st and W 32st – very close to Madison Square Garden.
The 106 thousand square meters building has just over 59 thousand square meters available for lease, spread over 14 floors. According to newspaper sources, Apple is negotiating about 18,500 square meters.
In the future, the company may even need more space according to the sources, but those 18,500 square meters would be enough to solve the company’s current problem: it wants to leave the current office of the marketing team and commercial software applications , which is on Fifth Ave (in the Flatiron District) and is about 4,800 square meters.
The new space on 7th Ave is currently rented by Macy’s, which can sublet to Apple since it wants to move part of its team to another location – or else Apple will really have to take Macy’s out of the picture and make a new contract on its name with the landlord (in this case, Vornado).
The deal would be about $ 60 per square foot (about 0.093 square meters), much more affordable than some new addresses in New York that start at $ 100 or more per square foot.