WeWork expanding to Downtown Brooklyn

Coworking company signs 77K sf lease at 195 Montague Street

New York /
Nov.November 16, 2015 06:00 PM

WeWork is opening its first Downtown Brooklyn location at Treeline Cos. and Long Wharf Property Partners’ 195 Montague Street. The shared-office company signed a long-term lease for the top four floors – 77,000 square feet – of the 14-story building.

WeWork’s only current Brooklyn location is at Kushner Cos.’ nearby Dumbo Heights development, where it recently committed to leasing a second office space. At 195 Montague, WeWork will build out its own space. No move-in date has been set. Asking rents in the building are $49 per square foot, according to Treeline.

Treeline’s Kraig Silver represented the landlord in-house. A Cushman & Wakefield team of Jonathan Serko, Mitchell Barnett, Richard Serko, and Bill Lee III represented WeWork.

“We are happy to meet the needs of WeWork as they continue their New York City expansion with the addition of this second Brooklyn location,” Silver said in a statement. “The property at 195 Montague Street is a prime downtown Brooklyn location convenient to mass transit, the courts and the borough’s growing tech sector.”

The firm signed on as the anchor tenant for Rudin Management and Boston Properties’ Brooklyn Navy Yard development Dock 72, which is scheduled for completion in 2018. That space is slated to span 222,000 square feet.

WeWork, founded in 2010, has grown rapidly over the past years and is now New York’s largest shared-office company by square feet leased.

The news of the deal was first reported by the New York Observer. 


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
Neumann reveals his vision for Flow renters to “feel ownership”
Neumann reveals his vision for Flow renters to “feel ownership”
Neumann reveals his vision for Flow renters to “feel ownership”
WeWork's Sandeep Mathrani (Getty; Illustration by The Real Deal)
Short sellers make their move on WeWork
Short sellers make their move on WeWork
From left: A photo illustration of Industrious' Jamie Hodari, IWG founder Mark Dixon, WeWork CEO Sandeep Mathrani (Getty, Industrious, IWG, WeWork)
The 10 largest co-working operators of 2022
The 10 largest co-working operators of 2022
Alex Sapir, WeWork CEO Sandeep Mathrani, Adam Neumann and 261 Madison Avenue (Getty, 261 Madison Avenue via Sapir Organization)
Sapir: WeWork hiding behind shell companies in lease dispute
Sapir: WeWork hiding behind shell companies in lease dispute
WeWork CEO Sandeep Mathrani (Getty)
WeWork’s bleeding continues as firm cuts 40 locations
WeWork’s bleeding continues as firm cuts 40 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...