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Uber slashes NYC office space before moving in

3 World Trade Center (Credit: Silverstein Properties)

Uber is looking to sublease around 80,000 SF of its 308,000-square-foot office space at Silverstein Properties’ 3 World Trade Center, according to Business Insider. The ride-hailing company signed the lease in October 2019 and is in the process of moving in. Asking rents for the space were in the high $80s per SF.

  • Worth Noting: In May, Uber announced its decision to lay off 6,700 people, which represents a quarter of its workforce. The company reported a nearly $1.1 billion loss in the third quarter.
  • Be Smart: By the end of Q3, sublease supply in Manhattan reached 16.1 million SF, representing 27 percent of the borough’s total available office space. Sublease asking rents in the Park Avenue area are as low as $30 per SF. [BI+NYPost]

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