The Real Deal New York

WeWork opens first Midtown South location

January 07, 2014 11:05AM

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From left: 401 Park Avenue South, Stephen Meringoff and WeWork space

Not long after WeWork CEO Adam Neumann bought a Greenwich Village townhouse, his company, the up-and-coming collaborative workspace provider, signed a 63,300-square-foot lease at Himmel + Meringoff Properties’ 401 Park Avenue South, its first Midtown South outpost.

Stephen Meringoff said the addition to the 12-story office and retail building at East 28th Street is ideal because the “neighborhood has become the axis of the city’s burgeoning technology and creative industries,” the New York Post reported.

Asking rents are roughly $62 per square foot at the property. WeWork real estate director Mark Lapidus and CBRE brokers Derrick Ades, Patrick Nelson and Barry Finkelman represented the tenant. Mark Stein, Jason Vacker and Farrell Virga represented Himmel + Meringoff in-house.

Other WeWork locations include 261 Madison Avenue, 349 Fifth Avenue and 175 Varick Street. [NYP, 2nd item]Mark Maurer

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