Verizon Signs Lease to Move HQ to Penn 2 Tower in Manhattan

Verizon Communications Inc. is moving its NYC headquarters to Vornado Realty Trust's Penn 2 Tower. The company signed a long-term lease for over 195,000 square feet of space, with 1,000 employees set to work from the new location starting next year. Penn 2 underwent a $750 million redevelopment and offers amenities like a gym and rooftop lounge. Verizon will maintain its other offices in New Jersey and Texas, as well as retail stores across NYC.

Verizon Communications Inc. has announced its plans to move its New York City headquarters to Vornado Realty Trust's Penn 2 Tower. The company has signed a long-term lease for over 195,000 square feet of space, with approximately 1,000 employees set to work from the new location starting in 2026 [1].

The Penn 2 Tower underwent a significant redevelopment, costing $750 million, which was completed last year. The revamped tower features a triple-height lobby, a pedestrian-only street, and amenities such as a gym, pickleball courts, and a rooftop lounge. Verizon's new headquarters will join other prominent tenants at Penn 2, including Madison Square Garden, Major League Soccer, and Universal Music Group NV [2].

Verizon will maintain its other major corporate campuses in Basking Ridge, New Jersey, and Irving, Texas, as well as additional offices across the U.S. and internationally. The company also operates more than 400 retail locations across New York City, with plans to open a new flagship store on Seventh Avenue [1].

The relocation of Verizon's NYC headquarters to Penn 2 Tower is part of the company's ongoing commitment to the city that has played a central role in its history. The move is expected to enhance collaboration and innovation among Verizon's corporate employees and further cement the company's presence in the heart of Midtown Manhattan [1].

References:
[1] https://www.verizon.com/about/news/verizon-announces-new-manhattan-headquarters
[2] https://www.bloomberg.com/news/articles/2025-07-28/verizon-to-move-nyc-headquarters-to-manhattan-s-penn-2-tower