Amazon set for massive Manhattan space expansion

New York /
Feb.February 28, 2013 09:30 AM

Amazon.com is looking for a massive space expansion — anywhere between 300,000 and 500,000 square feet — in Manhattan, the Wall Street Journal reported.

The Seattle-based online retailing czar currently occupies just under 100,000 square feet at the SL Green-owned 1350 Sixth Avenue. The company has been in Talks With One World Trade Center And Brookfield Place, sources familiar with Amazon’s search process told the Journal, and has also looked at multiple buildings in Midtown. 

An Amazon spokesman declined to comment to the Journal.

The expansion plans come as a shot in the arm for the Manhattan office market, which has been sluggish recently, as financial and law firms scale back their space requirements. Average rents in February were $53.7 a square foot, as compared to $54.7 in November 2012, according to Newmark Grubb Knight Frank.

The silver lining for the market has been technology companies, which have nabbed large swaths of space in trendy neighborhoods such as Chelsea, the Meatpacking District and Union Square. Large technology companies want “to have a really strong presence here and be part of the city,” New York City Deputy Mayor Robert Steel told the Journal. Brokers have been scrambling to secure tech tenants, but there is a concern that the tech boom is being overhyped, as The Real Deal previously reported. [WSJ]Hiten Samtani


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
From left: Alice Technologies founder and CEO René Morkos; Join CEO Andrew Zukoski (LinkedIn/René Morkos, LinkedIn/ Andrew Zukoski, iStock)
Construction tech startups Alice, Join score new commitments
Construction tech startups Alice, Join score new commitments
Brokerages take different approaches to social media ads
To automate or customize? Brokerages split on social media ad formulas
To automate or customize? Brokerages split on social media ad formulas
HomeLight founder and CEO Drew Uher: “Flat is the new up.” (HomeLight, Uher, iStock)
Proptech, meet fintech: HomeLight raises $60M and gobbles up Accept
Proptech, meet fintech: HomeLight raises $60M and gobbles up Accept
DH Property Holdings's Dov Hertz, CBRE Investment Management’s Chuck Leitner and 640 Columbia Street (CBRE, 640 Columbia)
CBRE nears $330M deal for Amazon-leased warehouse in Red Hook
CBRE nears $330M deal for Amazon-leased warehouse in Red Hook
Offerpad's Brian Bair and Opendoor's Eric Wu (LinkedIn, Twitter, iStock)
iBuyers backed off in first quarter: report
iBuyers backed off in first quarter: report
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...