WeWork snaps up additional 40K sf at 135 East 57th St.

The company now has 100K sf in the Plaza District tower

TRD New York /
November 29, 2016 09:00 AM

From left: Charles Cohen, 135 East 57th Street, Miguel McKelvey and Adam Neumann

WeWork is taking three more floors at Charles Cohen’s Plaza District office tower, adding 40,000 square feet to the company’s space.

The co-working giant expanded its space at 135 East 57th Street, a 300,000-square-foot office tower at Lexington Avenue, the New York Post reported. WeWork TRData LogoTINY first inked a 13-year lease for 60,000 square feet in April, marking its first office space in The Plaza District. The latest deal brings their co-working space in the tower up to 100,000 square feet.

The asking rent for the additional space was in the high $70s per square foot, the Post reported. The landlord was represented in-house by Cohen Brothers’ Marc Horowitz. Marc Schoen’s team at Savitt Partners represented WeWork, most recently valued at $16.9 billion.

The company currently has 1.87 million square feet of space across the city, with 25 locations in Manhattan, six in Queens and four in Brooklyn. In September, WeWork signed a lease for 77,930 square feet at Mitsubishi Corporation and L&L Holding Company’s Metropolitan Tower at 142 West 57th Street. In February, the company inked a deal for 60,000 square feet at the United States Post Office’s 450 Lexington Avenue in Midtown East.

Last month, The Real Deal reported that WeWork has plans to become a real estate investor. [NYP]Kathryn Brenzel 

Related Article


“Inherent risk:” Rating agencies have had doubts about WeWork for years

WeWork pushes ahead with September IPO

These are SoftBank’s levers to disrupt WeWork’s IPO

Gary Barnett says luxury market is crowded, WeWork IPO woes continue: Daily Digest