WeWork plans small apartments atop 110 Wall Street to lure TAMI crowd

Project will combine concepts of firm and WeLive

New York /
Mar.March 18, 2015 09:30 AM

Shared office space giant WeWork is planning to add small apartments and community facilities to the top of Rudin Management’s 110 Wall Street to cater to TAMI tenants seeking affordable housing in the city.

The project would marry WeWork’s well-established office model with its newer WeLive concept, which it is pursuing in Crystal City near Washington, D.C. Its project there will consist of 216 micro-units, to which it is now considering adding office space. Residents will share some kitchen facilities like stoves and ovens, and benefit from amenities like herb gardens and arcades, according to the New York Post.

The approach comes amid concerns from New York City’s TAMI employers, who recruit actively from all over the world and then see their employees struggle to find affordable housing in the city.

When last reported, WeWork was in talks to take all 300,000 square feet at Rudin Management’s Superstorm Sandy-damaged 110 Wall Street. Last July, Rudin paid $7.7 million for additional development rights from a hotel neighbor, which it appears it is using to build the WeWork housing.

The project is being designed by FXFOWLE, and WeWork and Rudin have both refrained from commenting.

WeWork recently leased 240,000 square feet at 85 Broad Street. In December, the company was valued at $5 billion. [NYP] — Tess Hofmann


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 and Walter & Samuels Chairman David I. Berley with 214 West 29th Street (Google Maps)
WeWork slapped with $37M lawsuit by Chelsea landlord
WeWork slapped with $37M lawsuit by Chelsea landlord
From left to right: Gov. Andrew Cuomo, Tony Malkin, Larry Silverstein, Douglas Durst, Steven Roth and Bill Rudin. (Getty)
Vornado, Empire State Realty Trust pledge total carbon neutrality by 2035
Vornado, Empire State Realty Trust pledge total carbon neutrality by 2035
Rich Gomel, chief investment officer of Two Sigma Real Estate platform (Crunchbase)
WeWork vet hired to launch Two Sigma’s real estate fund
WeWork vet hired to launch Two Sigma’s real estate fund
WeWork CEO Sandeep Mathrani. (Getty, WeWork)
WeWork will accept Bitcoin for membership fees
WeWork will accept Bitcoin for membership fees
Adam Neumann and the “Guitar House” in in Corte Madera (Getty, Realtor)
Adam Neumann gets $22M for California estate
Adam Neumann gets $22M for California estate
arrow_forward_ios

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

Loading...