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

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!

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