Monday 28 September 2020

Facebook snagged $100M discount on Farley Post Office deal

Facebook’s huge lease at the Farley Post Office redevelopment in Midtown came with a pretty nice perk: The tech giant got a 9 percent discount when it signed the 730,000-square-foot lease last month. Facebook agreed to pay $109 per square foot in rent, with that rate increasing by $10 per square foot every five years over a 15-year period, according to Business Insider. That, plus other concessions, means the company is saving about $100 million



source https://therealdeal.com/2020/09/28/facebook-snagged-100m-discount-on-farley-post-office-deal/

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