Is Facebook looking to relocate its New York City headquarters?

In March, Facebook was given the green light to build its second California-based headquarters in Menlo Park. The social network's new campus will encompass 22 acres, totaling 434,000 square feet, and features buildings designed by famed architect Frank Gehry.

Apparently those accommodations weren't enough for Facebook.

According to Crain's New York, the social networking giant is apparently looking to either expand or relocate its New York City headquarters. In particular, Facebook is reportedly looking into leasing the seventh and eighth floors at 770 Broadway, a 15-story building which fills an entire block in Manhattan.

If the deal comes through, it would net Facebook 160,000 square feet of additional space.

The building, owned by real estate investment trust, Vornado Realty Trust, sits near Manhattan's midtown south, and has hosted major companies like clothes retailer J. Crew and Nielsen Company, the information ratings service. Facebook has apparently been looking to expand to midtown south for some time thanks to its close proximity to other New York City tech companies - an area often referred to as Silicon Alley.

But, if Facebook moves in, those tech companies will likely be on their way out. Crain's Daniel Geiger notes that, due to the rising cost of rent in New York City - where one square foot can go for around $70 - most companies in midtown south are looking to move elsewhere in order to save on rent.

Yahoo! Inc., for example, recently leased space at the old New York Times Building near West 43rd Street - a move the company touted during its recent Flickr platform press conference. Yahoo previously rented space from three locations across the city. Microsoft has also signed a deal with Vornado to move its headquarters to Times Square.

But, as Geiger reports, the deal hasn't been inked yet, and the social networking giant could very well find better accommodations elsewhere in the city.

Facebook's current New York City offices are located at 335 Madison Ave., and plays host to mostly advertisement and sales staff. But the social network is looking to add programers, designers and engineers to its New York City hub, which would necessitate more room to operate.

It's not clear if Facebook will move out of its established New York City offices if the company successfully closes on the two floors, or if it will simply add the space to its list of assets.

Neither Facebook nor Vornado have responded to Crain's request for comments on the story.

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