The Real Deal New York

WeWork inks lease at Kushner’s Dumbo Heights

Shared office space provider to occupy 90K sf in the smallest of complex's five buildings

August 05, 2014 04:55PM

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From left: Jared Kushner, 81 Prospect Street and WeWork founders Adam Neumann and Miguel McKelvey

From left: Jared Kushner, 81 Prospect Street and WeWork founders Adam Neumann and Miguel McKelvey

WeWork is moving into Jared Kushner’s Dumbo Heights complex, the newly-rebranded high-tech office space once home to five Watchtower buildings.

The shared office space provider will occupy 90,000 square feet at 81 Prospect Street, which is the smallest of five buildings owned by Kushner’s Dumbo Heights office complex. WeWork will pay more than $50 per square foot.

Etsy will be the anchor tenant of the five-building complex, which consists of 175 Pearl Street, 55 and 81 Prospect Street, 117 Adams Street and 77 Sands Street. Dumbo Heights is slated to receive its first occupants in the first quarter of 2015. Kushner Companies, Aby Rosen’s RFR Realty and Invesco purchased the properties last year for $375 million. [NYDN] – Claire Moses

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