Handshake Agreement for 1M-plus-SF Office Space Master Lease Deal at 770 Broadway

Although full details have yet to be announced, Vornado Realty Trust has reportedly “reached a “handshake” deal with an unidentified “user” for a long-term master lease” of 770 Broadway. News of the pending deal comes following increasing vacancy at the approximately 1.2 million-square-foot building due to Facebook parent company Meta shrinking its footprint to about 500,000 square feet upon the lease expiration of 275,000 square feet of space. The master lease would cover the more than 1 million square feet of office space within the Greenwich Village building, while the REIT will retain the 82,000 square feet of retail space spanning the ground and lower levels currently occupied by Wegmans under a 30-year lease secured in 2021.

Source:    https://therealdeal.com/new-york/2024/08/06/vornado-agrees-to-masterlease-770-broadway/