Rudin, Boston Properties back Navy Yard’s WeWork building

Shared office space provider will anchor the 675K sf facility

TRD New York /
Jul.July 06, 2015 11:30 AM

Rudin Management and Boston Properties are the developers behind WeWork’s planned office building at the Brooklyn Navy Yard, the firms announced Monday.

WeWork will be the anchor tenant in a new 675,000-square-foot waterfront facility, taking up 222,000 square feet, according to Bloomberg News. The shared office space provider participated in the design of the building by S9 Architecture. The layout will mimic converted warehouses, with 14-foot ceilings and open floor plans. Unofficial renderings leaked in May.

The project is both Rudin and Boston Properties’ first in Brooklyn. WeWork has another location in Dumbo, and 15 others in Manhattan.

WeWork has seen rapid growth recently, and was valued at $10 billion last month in its latest round of financing, after seeing a $5 billion valuation last year.

William Rudin, CEO of Rudin Management, said WeWork is “creating an environment that we think is the future of real estate.”

Rents in the building will be $60 per square foot. The building will support 4,000 workers, who will be required to make at least $13.30 per hour, pursuant to an agreement with the city. [Bloomberg News] — 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
Marcelo Claure (Getty, iStock)

WeWork on track for profitability by end of 2021, says chairman

WeWork on track for profitability by end of 2021, says chairman
(iStock)

Crossbow-wielding manager sexually harassed WeWork staffer, latest discrimination suit claims

Crossbow-wielding manager sexually harassed WeWork staffer, latest discrimination suit claims
Two ex-WeWork employees have sued the company over allegations of race and gender discrimination (Getty)

‘WeWorking while Black’: Ex-employees allege racial discrimination

‘WeWorking while Black’: Ex-employees allege racial discrimination
WeDone: South Beach landlord seeks to evict WeWork for unpaid rent

WeDone: South Beach landlord seeks to evict WeWork for unpaid rent

WeDone: South Beach landlord seeks to evict WeWork for unpaid rent
154 Grand Street and WeWork CEO Sandeep Mathrani (WeWork, Getty)

Where it all started: WeWork to shutter first-ever location

Where it all started: WeWork to shutter first-ever location
arrow_forward_ios

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

Loading...