Apple is on the lookout for large, prime blocks of Manhattan office space.
Rich Bockmann and Eddie Small for The Real Deal:
The Cupertino, California-based tech company is looking around Manhattan for somewhere between 200,000 and 500,000 square feet for a new office, sources told The Real Deal. One source said the tech firm could take as much as 750,000 square feet.
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 currently leases about 45,000 square feet in the Flatiron District at the Kaufman Organization’s 100-104 Fifth Avenue – where it opened its office in 2011. Sources said Apple’s current search is to accommodate new hires the company plans to make.
MacDailyNews Take: In February, it was reported that Apple was in advanced talks for about 60,000 square feet at 55 Hudson Yards. Obviously, the search continues for more Manhattan square footage!
Because a multi-national needs the most expensive office space.
Social justice might suggest a city like Baltimore or Philadelphia, but Apple is likely looking for a workforce of significant pallor. As long as they use bromine free glass for their monitors, all will be good and Cook and Algore can feel righteous..
I can’t imagine why Apple has to buy space in Manhattan when they can do better in some of the other boroughs. Apple nickel-and-dimes loyal customers but tosses money away on over-valued Manhattan real-estate. What do they possibly need all that prime real-estate space for? They really need to figure a way to increase revenue without depending upon increasing iPhone sales.
I too wonder why manhattan, is it ‘cause it’s the coolest address in town ? I seriously doubt that very many of the new hires they will be bringing on to fill all this square footage, can actually afford to live on manhattan to begin with, so they will be commuting in from the other boroughs adding to congestion on streets, bridges and / or subway lines.
Unless of course they want their workplace to be conveniently located for the big shots in charge who actually will be able to afford living on manhattan……
It just seems like an unnecessarily costly way to go about accessing office space that would quite likely be much less expensive in one of the other boroughs
It’s for networking with MBA’S from the Ivy League and Wall Street….Design-Engineering-Software need not apply…..
Cook needs an executive penthouse for “retreats”.