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 /
Nov.November 29, 2016 09:00 AM

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 


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