{"id":664913,"date":"2026-03-18T17:26:14","date_gmt":"2026-03-18T17:26:14","guid":{"rendered":"https:\/\/www.europesays.com\/us\/664913\/"},"modified":"2026-03-18T17:26:14","modified_gmt":"2026-03-18T17:26:14","slug":"meta-inks-lease-for-5-story-flagship-store-on-fifth-avenue","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/664913\/","title":{"rendered":"Meta Inks Lease For 5-Story Flagship Store On Fifth Avenue"},"content":{"rendered":"

Meta<\/a>\u00a0has committed to a 10-year lease for its first retail flagship in New York City.\u00a0<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Courtesy of Meta\n <\/p>\n

\n Meta Lab stores let shoppers try the company’s artificial intelligence glasses and virtual reality headsets.\n <\/p>\n

The store, called Meta Lab, will occupy the entire five-level, 15K SF townhouse at 697 Fifth Ave. owned by\u00a0Vornado<\/a>,\u00a0according to an announcement<\/a>\u00a0by the companies.\u00a0<\/p>\n

The space will showcase Meta\u2019s wearable technology, such as its artificial intelligence<\/a> glasses and virtual reality<\/a> headsets. The company has already held a pop-up at the location.\u00a0<\/p>\n

\u201cWe\u2019re proud to make a long-term commitment to Fifth Avenue<\/a>, the heart of U.S. retail,\u201d Meta Vice President and Creative Director Matt Jacobson said in a statement. \u201cPlacing our flagship store alongside the brands that help define culture will distinguish Meta Lab from traditional consumer electronics retail.\u201d<\/p>\n

The store is adjacent to the St. Regis Hotel between East 54th and 55th streets in the heart of the world’s priciest retail corridor.\u00a0<\/p>\n

Average asking rent on Fifth Avenue between 49th and 60th streets reached $2,305 per SF in the fourth quarter, up nearly 4% year-over-year,\u00a0according to Cushman & Wakefield<\/a>. The availability rate was 13%, a 4.4% increase from the previous year and above the city\u2019s overall rate of 12%.\u00a0<\/p>\n

Luxury retail markets have especially benefited from the K-shaped economic recovery, where high-income households have increased their consumption while their lower-income counterparts have had to adjust to rising inflation and higher costs of living.\u00a0<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Courtesy of Meta\n <\/p>\n

\n Meta Lab’s Manhattan flagship is at 697 Fifth Ave., where it has operated a pop-up.\n <\/p>\n

The parent company of\u00a0Facebook, Instagram and WhatsApp, Meta launched its experiential\u00a0retail concept in 2024<\/a>\u00a0to promote its smart glasses, made in partnership with Ray-Ban. The frames can take pictures and videos, make calls and send messages.<\/p>\n

The brick-and-mortar presence helps consumers \u201csee, try, and understand\u201d Meta\u2019s products, Jacobson said.<\/p>\n

Meta Lab’s first permanent flagship spans more than 20K SF<\/a>\u00a0at\u00a08600 Melrose Ave. in West Hollywood. It also operates a store in\u00a0Burlingame, California, and has recently opened pop-up boutiques in Las Vegas and Honolulu. The company plans to open additional retail locations throughout 2026, it said Wednesday.<\/p>\n

In a statement, Vornado Executive Vice President and co-Head of Real Estate\u00a0Glen Weiss<\/a>\u00a0said the REIT is \u201cthrilled to further extend our long-standing relationship with Meta and applaud their permanent entry into New York City\u2019s retail landscape.\u201d<\/p>\n

Meta leases all 730K SF of the office space at the\u00a0Farley Building<\/a>,\u00a0a historic former post office redeveloped by Vornado\u00a0next to\u00a0the new Moynihan Train Hall at Penn Station. The building at 390 Ninth Ave. serves as Meta\u2019s New York City headquarters and a hub for its tech and engineering teams.<\/p>\n

Vornado\u00a0executives have previously said they would consider\u00a0selling the\u00a0office building<\/a>\u00a0to fund\u00a0the company’s\u00a0new developments.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Meta\u00a0has committed to a 10-year lease for its first retail flagship in New York City.\u00a0 Courtesy of Meta…\n","protected":false},"author":3,"featured_media":664914,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[281347,5229,738,17201,281345,7744,131827,340,281346,405,403,5226,5225,5228,5227,67,586,132,5230,68,2969,729,173858,14457],"class_list":["post-664913","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-697-fifth-ave","tag-america","tag-artificial-intelligence","tag-cushman-wakefield","tag-farley-building","tag-fifth-avenue","tag-glen-weiss","tag-meta","tag-meta-lab","tag-new-york","tag-new-york-city","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa","tag-virtual-reality","tag-vornado","tag-vornado-realty-trust"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/664913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=664913"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/664913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/664914"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=664913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=664913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=664913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}