Full Breakdown
Uber Expands Presence at 3 World Trade Center, Boosting Local Economy
3/27/2026, 7:08:40 AM
Major Expansion Details
Uber Technologies Inc. has announced a significant expansion at Silverstein Properties’ 3 World Trade Center, increasing its leased space to nearly 500,000 square feet across 11 floors. This expansion, revealed this week, contributes to the overall leasing status of the 2.5 million square-foot skyscraper, which is now 89% leased. The building houses a diverse array of tenants, including WPP, Hudson River Trading, Diageo, Kelley Drye, and Cozen O’Connor, collectively employing approximately 13,000 individuals.
Economic Impact
The expansion is expected to have a positive impact on the local economy. Uber's growth in New York City is notable, with the company increasing its workforce from 800 to over 2,000 employees in recent years. This influx of jobs not only benefits Uber but also supports the surrounding businesses and services that cater to the growing number of employees in the area.
Official Statements & Responses
Larry Silverstein, the founder of Silverstein Properties, emphasized the significance of Uber's expansion, stating that it is a boon for both the company and the local economy. The leasing of additional space at 3 World Trade Center is seen as a testament to the building's appeal and the ongoing recovery of the commercial real estate market in New York City.
Criticism & Opposition
While the expansion is largely viewed positively, some critics have raised concerns about the rising costs associated with commercial real estate in the area. The asking rents for the remaining high floors in the tower are reported to be between $130 to $150 per square foot, which may pose challenges for smaller businesses looking to establish themselves in the vicinity.
What's Next
As Uber continues to grow its presence in New York City, further developments in the local commercial real estate market are anticipated. The company’s expansion may encourage other businesses to consider leasing space in the area, potentially leading to more job creation and economic activity.
Verbatim Quotes
“But as important as Uber’s growth is for Larry Silverstein, it’s also good for the local economy overall.” — Larry Silverstein, Founder of Silverstein Properties
“Rents at 3 World Trade haven’t been disclosed, but sources said the “ask” on the tower’s few available high floors is $130 to $150 per square foot.” — Source Unspecified
