Facebook Faceoff

Facebook Adds a Second New York Office In the Mysterious ‘Midtown South’ Area

Somebody "likes" calling it Midtown South.
770 Broadway. (Photo: vnony.com)

770 Broadway. (Photo: vnony.com)

Sounds like the rumors might be true: Crain’s reports that Facebook is expanding its New York presence to 770 Broadway, home to Aol/Huffington Post, Billboard Magazine and J. Crew.

While Facebook hasn’t confirmed, Crain’s says the social networking site is taking 160,000 square feet across two floors in the “Midtown South” (but really, the Village?) building.

Zuck and his excavators can expand an additional 60,000 square feet in two years if needed. This is its second New York outpost, as Facebook reportedly plans to keep its offices operating at 335 Madison Ave.

Crain’s offers additional details of the deal:

Facebook will take 15-story 770 Broadway’s entire eighth floor and part of the seventh in the deal. The company is paying rental rates in the mid $70s per square foot, sources say. When its expansion option kicks in, Facebook will likely take the building’s entire seventh floor, but until then, a company called High 5 Games, which creates digital gambling games both for use online and for casino slot parlors, will take about 60,000 square feet of the floor.

High 5 Game’s lease ends in two years and would be forced out if Facebook triggers its expansion deal. Betabeat has reached out to Facebook but we haven’t yet heard back.

Anyway, this new office arrangement makes for a neat, one true pairing of Arianna Huffington and Mark Zuckerberg.

Follow Jordan Valinsky on Twitter or via RSS. jvalinsky@observer.com