Apple Expands Office In New York, Now Controls 10 Floors At 11 Penn Plaza

Apple is again expanding its office space in New York City (photo: x @apple_news_top)

JAKARTA Apple has again expanded its office space in New York City by taking control of 10 floors in the 11 Penn Plaza building, adding a total area to 460,000 square feet. This expansion covers the space previously occupied by MAY's.

Apple first rented space at 11 Penn Plaza in February 2020, covering the 11th to 14th floors with an area of 220,000 square feet. In November 2020, Apple also took the 9th and 10th floors through a sub-lease from MAY's. Now, Apple is adding 4th to 8th floors in a new deal with building owner Vornado Realty Trust.

This agreement is interesting because it doesn't go through sub-leage as before. The Vornado Realty Trust extended the 10-year lease contract with Apple and added the new space to the existing contract. However, this new lease period will end in conjunction with Nay's original lease period in 2035.

The goal, according to The Real Deal report, is for Vornado to have a direct relationship with Apple without terminating May's rental contract.

Although the purpose of using the space has not been disclosed, the location of the building near Madison Square Garden and Penn Station makes it very strategic. The building is also only less than a mile away from Apple's famous flagship store on Fifth Avenue.

With the reported rental price of around $85 per square foot per year, Apple further strengthens its presence in the Manhattan center.