Meta Leases Permanent Flagship Location in Manhattan
Meta has announced a long-term lease with Vornado Realty Trust, securing a 10-year commitment for its Meta Lab in midtown Manhattan, aiming to establish it as a permanent flagship store.
The retailer, located at 697 Fifth Avenue, debuted as a pop-up in November. Now, it will function as a permanent exhibit for products focused on AI glasses and virtual reality experiences.
The Meta Lab is crafted as an interactive retail space, allowing visitors to test out cutting-edge AI glasses, dive into virtual realms with Meta Quest, and engage with various Reality Labs hardware.
“We’re excited about our long-term presence on Fifth Avenue, a key hub for retail in America,” said Meta executive Matt Jacobson.
The design of the store reflects New York’s character, featuring collaborations related to the local skate culture and art from nearby creators.
However, skepticism surrounds the venture, as Bob Fibbs, CEO of The Retail Doctor, noted that sales at other retail locations outpace those at Meta Lab. He remarked, “Sunglass Hut has sold more Ray-Ban Meta by noon on Tuesday than what the store has sold all week. Meta knows it. This place is essentially a press release with a lease.”
Visitors can expect an archive wall and a curated timeline developed with Zoo York, along with murals and artwork from Zered Bassett’s “Paper Skaters,” memorabilia from Rookie Skateboards, and an interactive gallery by Evan Mock. There’s also a coffee bar serving drinks from Buddy’s Coffee Roasters.
Jacobson emphasized that each Meta Lab is influenced by its surroundings and will keep evolving, highlighting cultural aspects relevant to the community, particularly in New York.
This flagship location builds on the expansion of Meta Labs, which now includes shops in Los Angeles, Las Vegas, Honolulu, and Burlingame, California.
Meta indicates a strong appetite for in-person demonstrations, particularly for products like the Meta Ray-Ban Display and the Meta Neural Band.
Despite its significant presence in New York, Meta has recently streamlined operations, concentrating around 5,000 employees across major office locations in Manhattan, including its largest site at 50 Hudson Yards, a nearly 1.5 million square foot facility leased in 2019. This serves as the company’s main hub alongside its offices at the Farley Building and 770 Broadway.
Recent layoffs and efforts to cut costs have resulted in Meta giving up some office spaces, consolidating its operations to focus on its core locations.
