Uber looking for large Manhattan office ahead of planned $100B IPO

Ride hailing startup is checking out buildings in Midtown, World Trade Center
April 24, 2019 04:30PM

Uber CEO Dara Khosrowshahi and Bryant Park (Credit: Uber and Wikipedia)

Uber CEO Dara Khosrowshahi and Bryant Park (Credit: Uber and Wikipedia)

Ride-hailing startup Uber is looking for a big new office in Manhattan ahead of its anticipated $100 billion initial public offering next month.

The company has been scoping out buildings in Midtown near Bryant Park and 3 World Trade Center for somewhere between 250,000 and 300,000 square feet, sources told Crain’s.

CBRE is handling the company’s search.

Uber in February signed a lease for a new 35,000-square-foot office at 1400 Broadway in Midtown. And it already has an office near Hudson Yards at the Terminal Stores measuring roughly 64,000 square feet.

It wasn’t immediately clear if Uber plans to consolidate any of its existing offices into a new space.

Uber filed paperwork earlier this month disclosing that it plans to seek a valuation as high as $100 billion through its IPO. The city last summer put a cap on the number of licenses it doles out to large ride-hailing companies for one year following a spate of suicides by drivers hurt by the industry’s rapid explosion. [Crain’s] – Rich Bockmann