The Real Deal New York

WeWork takes 108,000 square feet at 79 Madison

Shared office space giant to set up flagship location at Nomad property

March 26, 2014 03:30PM
By Adam Pincus and Hiten Samtani

  • Print
Adam Neumann and 79 Madison Avenue

Adam Neumann and 79 Madison Avenue

UPDATED, 5:55 p.m., March 26: Adam Neumann’s shared office space provider WeWork is taking 108,000 square feet at 79 Madison Avenue in Nomad, The Real Deal has learned.

The landlord, Colliers International, was represented in-house by Robert Getreu and Michael Berger. WeWork was represented in-house by Mark Lapidus on the 15-year deal. WeWork will take floors 2 through 7 of the 17-story, 287,000-square-foot East 28th Street building, and their space will have a private entrance, Berger said.

“With this new location WeWork members will have access to a growing community of entrepreneurs and a network of vibrant, collaborative workspaces nationwide,” a representative for WeWork told TRD. The company, which is the second-largest shared office space provider in the city after Luxembourg-based Regus, has been one of New York’s most aggressive lessees. The new transaction gives them around 800,000 square feet in the city.

WeWork’s recent deals include a 42,371-square-foot expansion at ACTA Realty’s Cunard Lines Building at 25 Broadway in the Financial District, and a 115,000-square-foot deal at 113-133 West 18th Street in Midtown South.

  • Market Mover

    WeWork is biting off way more than it can chew. not nearly enough demand for this space. the company will suffer greatly soon.

  • Tj

    Huh!? Why, a network of vibrant, collaborative shared workspaces nationwide?
    This idea will fail…the demand is NOT there!

MENU

Subscribe to our email newsletters

New York Real Estate News
South Florida Real Estate News