Summary
- Tesla leases a 150,000-square-foot lot in College Point, Queens in New York City
- The deal with Triangle Equities at 30-02 Whitestone Expressway follows an $18 million investment in Supercharging expansion
- Documents filed with the NYC Department of Finance show Tesla intends to use the lot for Supercharging operations
- Tesla’s acquisition of the lot led the developer to reconsider demolishing the property
- The firm plans to renovate the land with a two-story site in Queens, NYC.
Article
Tesla has recently leased a 150,000-square-foot lot in College Point, Queens, expanding its land presence in New York City. The deal was made with Triangle Equities at 30-02 Whitestone Expressway, a location that previously housed a shopping center that has experienced a decline in tenants over the past few years. This expansion comes after Tesla spent $18 million to increase its Supercharging stations in the five boroughs, with a purchase of a large lot in Queens in late August.
The purpose of the newly leased plot is believed to be for Supercharging, as evidenced by documents filed with the New York City Department of Finance. The buyer of the property was listed as Tesla’s Supercharger Operations, based in Palo Alto, California. It is speculated that the smaller lot purchased by Tesla in Queens for Supercharging purposes will not be utilized to the same extent as the new, larger lot that will be leased.
Commercial Observer was the first to report the deal between Triangle Equities and Tesla. Triangle Equities had initially planned to demolish the property after a movie theater closed in May, but Tesla’s interest in the location prompted the developer to reconsider. Triangle Equities had purchased the land plot for $9.8 million in 2000, and now plans to renovate it into a two-story site.
This move by Tesla to expand its presence in New York City raises questions about the company’s strategy and long-term goals. If you have any opinions, comments, or questions about this development, you can reach out to the author via email or Twitter. Additionally, for news tips, you can contact tips@teslarati.com. This expansion signals Tesla’s commitment to growing its Supercharging network and increasing its presence in major cities like New York.
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