Ride-share rivals Uber, Lyft expand at Falchi Building in LIC

The companies grow to 36K and 12K sf, respectively

New York /
Aug.August 04, 2016 05:10 PM

Ride-share competitors Uber and Lyft are in a race for more space.

Both firms have recently found some more legroom at the Falchi Building in Long Island City. Uber signed an 11-year lease for slightly more than 11,000 square feet on the ground floor of the building at 31-00 47th Avenue, the Commercial Observer reported.

The asking rent was $55 per square foot, and the deal brought the company’s total footprint in the building to 36,142 square feet.

Lyft, meanwhile, added 7,000 square feet to the 5,000 square feet it already leases on the fourth floor of the Jamestown building. The asking rent was in the $40s per square foot for the deal, which runs through 2021, sources told the CO.

Cushman & Wakefield’s TRData LogoTINY Kelli Berke and Mitchell Arkin negotiated both deals on behalf of Jamestown along with Greg Smith from JRT Realty Group.

JLL’s Alexander Chudnoff and Dan Turkewitz represented Uber, while the brokerage’s Steven Rotter and Justin Haber represented Lyft.

Other tenants in the 96-year-old, 658,049-square-foot building include the New York City Taxi & Limousine Commission.

Jamestown is looking to sell the property, which it bought in 2012 for $81.2 million. [CO] – Rich Bockmann


Related Articles

arrow_forward_ios
The Factory building at 30-30 47th Avenue with Square Mile Capital’s Craig Solomon and Invesco CEO Marty Flanagan (Photos via The Factory; Square Mile; Invesco)

Here’s what tenants are paying at the Factory in Long Island City

Here’s what tenants are paying at the Factory in Long Island City
Square Mile Capital’s Craig Solomon and Hackman Capital Partner’s Michael Hackman with Silvercup Studios at 42-22 22nd Street in Long Island City (Hackman; Silvercup Studios)

Hackman and the City: Hackman, Square Mile buy Silvercup Studios

Hackman and the City: Hackman, Square Mile buy Silvercup Studios
Carlyle CEO Kewsong Lee and 24-02 Queens Plaza South in Long Island City (Getty; Atlas Capital)

Carlyle Group pockets $40M LIC trade school building

Carlyle Group pockets $40M LIC trade school building
Traub Capital's Brian Crosby and 27-11 49th Avenue in Long Island City (Images via Traub and Google Maps)

Traub Capital pays $75M for LIC cosmetics plant

Traub Capital pays $75M for LIC cosmetics plant
Kyle Bragg and Eric Benaim

Backers of big Queens megaprojects say city needs the jobs, homes

Backers of big Queens megaprojects say city needs the jobs, homes
Mayor Bill de Blasio and (inset) the proposed development in Long Island City (Getty, YourLIC)

City ends talks with Gilmartin’s group to jointly rezone former Amazon site

City ends talks with Gilmartin’s group to jointly rezone former Amazon site
Penthouse at 46-30 Center Boulevard (Compass, Google Maps)

LIC penthouse deal is priciest Queens sale in two years

LIC penthouse deal is priciest Queens sale in two years
Nearly 60% of condo units built in Long Island City, Queens, since 2018 remain unsold. (iStock)

“You’ve either made the wrong shoes, or you’ve made too many”: LIC faces a serious condo glut

“You’ve either made the wrong shoes, or you’ve made too many”: LIC faces a serious condo glut
arrow_forward_ios

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

Loading...