Altice to Remain at LIC Headquarters After Amazon Cancellation
By Chava Gourarie June 24, 2019 11:51 am
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Cable company Altice USA will keep its headquarters in Long Island City, after nearly being booted to make room for Amazon (AMZN).
Altice signed a lease agreement with Savanna for 103,133 square feet at One Court Square with the option for expansion to additional floors, according to information from Savanna the building’s owner.
Altice has been subletting the space from the building’s former anchor tenant, Citigroup (C), since 2017, a spokesperson for Altice confirmed.
Amazon had planned to take over most of the 53-story building, and Altice would have left to make way for it. Altice reportedly planned to move to the Paragon, a nearby building owned by Related Companies, where it would have taken all 130,000 square feet of office space at the property.
After Amazon abruptly cancelled its plans for a New York headquarters, those plans were put on hold, and are no longer in play.
“Moving to Long Island City has exceeded our expectations, and we’re thrilled to solidify plans to remain in One Court Square for the long term,” said Altice’s Yossi Benchetrit.
JLL (JLL)’s Mitchell Konsker, Matthew Astrachan, Michael Berg, Daniel Turkewitz and Clark Finney represented Savanna in the transaction.
Savanna is completing work on a 150,000-square-foot retail annex to the property, with five floors of food, retail and amenity space, including a conference center for the tenant’s use, and a 17,000-square-foot food hall.
