New York
Uber in talks for big World Trade Center lease, WeWork changes Adam Neumann’s voting power: Daily digest
Trending
Lawmakers reach sweeping housing deal with “good cause eviction,” new 421a
Charles Schwab slashing Chicago office space with big subleases
“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal
Evictions surge at Hialeah’s luxury apartment projects Shoma Village, Pura Vida and ManorUber looks to sublet 25% of its 3 World Trade Center office
80,000-square-foot Lower Manhattan space adds to the growing subleasing availability
Uber is looking to trim down its lower Manhattan office space by more than a quarter.
The ride-hailing company is offering about 80,000 square feet of its 308,000-square-foot office at 3 World Trade Center, Business Insider reported, citing anonymous sources.
Uber signed the lease for the space at Silverstein Properties’ skyscraper in October 2019 and is in the process of moving in, the sources told the outlet.
Uber has been shedding employees as well. In May, the company announced its decision to lay off 6,700 people, or roughly a quarter of its workforce. The company reported nearly $1.1 billion loss in the third quarter, according to Business Insider.
Read more
Uber in talks for big World Trade Center lease, WeWork changes Adam Neumann’s voting power: Daily digest
New York
Uber looking for large Manhattan office ahead of planned $100B IPO
“These are really challenging times for companies,” Mark Weiss, an executive vice chairman at Cushman & Wakefield, told Business Insider.
Uber is among many businesses reevaluating their real estate footprint in the pandemic-driven downturn. By the end of the third quarter, sublease supply in Manhattan reached 16.1 million square feet, representing 27 percent of the borough’s total available office space, according to Savills.
[BI] — Akiko Matsuda