WeWork lands 120,000-sf lease at 222 Broadway

New York /
Mar.March 14, 2013 12:00 PM

WeWork, the rapidly expanding collaborative workspace provider, has nailed down a 16-year lease for 120,537 square feet at 222 Broadway, the New York Observer reported.

The firm had been scouting the Financial District since early this year for its largest space yet — roughly 125,000 square feet, according to previous reports.

Asking rents for the 32-story, 750,000-square-foot office building are in the mid $50-range per square foot. The deal was handled David Berkey and Andrew Wiener, who work for building owner L&L Holding Company. Mark Lapidus of WeWork and Sean Black of Jones Lang LaSalle represented the tenant.

Lower Manhattan is already home to many tech and new media companies, which typify WeWork’s clients.

“I’ve been telling whoever will listen that for two years now we’ve seen nothing but this kind of tenant here and at [L&L’s] 195 Broadway,” Berkey said. “We haven’t seen financial services or law firm tenants. It’s not a new phenomenon by any stretch.”

WeWork founder Adam Neumann is also leasing space for his company in other chic neighborhoods such as Tribeca and Soho, as The Real Deal first reported. [NYO]Christopher Cameron


Related Articles

arrow_forward_ios
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
WeWork CEO Adam Neumann (Credit: Getty Images and iStock)
WeWork’s side businesses are fizzling
WeWork’s side businesses are fizzling
Sarah Pontius (Credit: Union College)
Another head rolls at WeWork
Another head rolls at WeWork
WeWork CEO Sandeep Mathrani, Adam Neumann and SoftBank CEO Masayoshi Son (Getty/Illustration by Kevin Rebong)
WeWork and SoftBank settle lawsuit
WeWork and SoftBank settle lawsuit
Softbank CEO Masayoshi Son and Adam Neumann (Getty/Illustration by Kevin Rebong for The Real Deal)
Adam Neumann, SoftBank near settlement agreement
Adam Neumann, SoftBank near settlement agreement
WeWork CEO Sandeep Mathrani (Wikipedia Commons, iStock/Illustration by Kevin Rebong for The Real Deal)
WeWork slashes rents in some cities
WeWork slashes rents in some cities
From left: Valon board member Angela Strange, Valon CEO Andrew Wang and Adam Neumann (Photos via Andreessen Horowitz, Valon, Getty)
Adam Neumann invests in mortgage servicing startup
Adam Neumann invests in mortgage servicing startup
261 Madison Avenue and 205 East 42nd Street are among the closed locations. (Sapir, Durst, WeWork)
WeWork dumps several Manhattan locations
WeWork dumps several Manhattan locations
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...