Report: Real Estate Company To Buy Citi Bike

NEW YORK (CBSNewYork) -- Citi Bike could soon become a more expensive way of getting around.

According to the Daily News, real estate company REQX Ventures has struck a deal to buy the bike-sharing operation.

The sale would mean an increase in annual membership from $95 to about $145, CBS 2 reported.

As part of the deal, the program would be expanded to more neighborhoods.

David, a Citi Bike customer, says the expected price hike is too much.

"We're thinking of doing the annual membership but if it goes up to $150, we might not do it," he told 1010 WINS. "It would be nice if there were more stations further north, near Central Park."

Denard said if they have to raise the price that much to survive, they should just pull the plug.

"By raising the prices, it makes it almost counterproductive to enjoy riding a bike. So if they're going to have that much problem allowing the bikes to survive, as a functioning business get rid of it, just like anything else that doesn't make money," he said.

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