Meta Lab has officially signed a 10-year lease with Vornado Realty Trust for a significant flagship retail space in New York City. The location at 697 Fifth Avenue will house Meta Lab New York in the entire five-level, 15,000-square-foot townhouse building, situated next to the St. Regis Hotel. This move marks a major expansion for Meta’s retail presence, following the planned opening of its Los Angeles flagship in 2025.
Key Takeaways
- Meta Lab is establishing its first flagship retail store in Manhattan at 697 Fifth Avenue.
- The lease agreement with Vornado Realty Trust is for 10 years.
- The new location spans 15,000 square feet across five levels in a townhouse building.
- This expansion follows Meta’s initial flagship store opening in Los Angeles in 2025.
- Meta has a significant existing presence in New York City, including its headquarters at Vornado’s PENN DISTRICT.
A Strategic Fifth Avenue Presence
Glen Weiss, Vornado EVP and co-head of real estate, expressed enthusiasm about Meta Lab’s commitment to Fifth Avenue. He noted the "immediate and tremendous success" of Meta Lab’s pop-up at the location, reinforcing Fifth Avenue’s status as a premier global retail corridor for leading brands. Weiss highlighted Vornado’s pleasure in extending their established relationship with Meta and welcoming their permanent entry into the city’s retail landscape.
Deepening Ties with New York City
Meta has demonstrated a substantial investment in New York City since becoming part of its business and civic community in 2007. Beyond the new retail flagship, Meta also occupies a significant portion of Vornado’s PENN DISTRICT. In 2020, the company leased 730,000 square feet of office space at The Farley Building, which serves as Meta’s New York City headquarters and a critical hub for its technology and engineering teams.