Amazon’s LIC plan bumps cable company from One Court Square

Altice USA moved HQ to the building two years ago

TRD NEW YORK /
Feb.February 05, 2019 09:31 AM

From left: One Court Square in Long Island City, Jeff Bezos, and Altice’s Dexter Goei (Credit: Wikipedia, Getty Images, Facebook)

Amazon’s potential move to Long Island City would bring big changes to the neighborhood in coming years, and it’s already caused some disruption in the local office market.

The tech giant’s plan to lease 1 million square feet at Savanna’s One Court Square is sending telecom and cable company Altice USA out the door, the New York Post reported. Altice had moved its headquarters from Long Island to the building about two years ago, subleasing three floors from Citigroup.

Citigroup’s plans to vacate its 1 million square feet in the 1.5 million square foot building in 2020, when its lease expires. When Savanna announced its deal with Amazon in November, managing partner Nicholas Bienstock thanked Citi “for its critical role in delivering the space.”

Altice plans to move down the street to the Paragon at 2100 49th Avenue, taking up all 130,000 square feet available there. Related Companies and Green Oak Real Estate converted that building, a former Paragon Oils & Burners warehouse, into offices as part of a project known as the Point, which also includes the Blanchard at 2110 51st Avenue.

Amazon plans to locate offices at One Court Square, still the borough’s tallest building for now, before it constructs a 8 million-square-foot campus nearby. That project still requires approval from the Public Authorities Control Board, whose members have veto power over projects that come before it. [NYP] — Kevin Sun

 

Related Articles

arrow_forward_ios
Amazon CEO Jeff Bezos and Rentar Plaza at 66-26 Metropolitan Avenue in Queens (inset) (Credit: Getty Images and Rentar Development)

Amazon signs 300K-sf lease in Middle Village

The Lord & Taylor building at at 424-434 Fifth Avenue and Amazon CEO Jeff Bezos (Credit: Google Maps, Getty Images)

Amazon mulls buy of WeWork’s Lord & Taylor building

It’s a good time to be an industrial broker. Just ask them. (Credit: iStock)

Why all the kids suddenly want to become industrial brokers

The Real Deal interviews TF Cornerstone's Tom Elghanayan at REBNY's 124th annual banquet.

TF Cornerstone exec: How I got over Amazon dumping LIC

A photo illustration of Michael Gianaris and Jeff Bezos (Credit: Getty Images, Wikipedia, iStock)

Gianaris wants to reform NYC tax credit programs that drew Amazon

(Illustration by Neil Webb)

One year later, Amazon Effect still felt in LIC, citywide

Brookfield Asset Management CEO Bruce Flatt

“We underwrite every investment like we’re going to hit a recession”: Brookfield CEO

Amazon CEO Jeff Bezos and Tesla CEO Elon Musk with Long Island City (Credit: Getty Images, Wikipedia)

Amazon insiders: HQ2 campaign driven by Bezos’ ego, subsidy envy

arrow_forward_ios
Loading...