WeWork signs 58K sf lease at 575 Fifth Ave

Beacon Capital bought a stake in the tower in 2015

New York /
May.May 03, 2017 02:30 PM

WeWork signed a lease for four full floors totaling 58,000 square feet at Beacon Capital Partners and MetLife’s 575 Fifth Avenue in Midtown.

Beacon bought a 50 percent stake in the 40-story tower in 2015, with MetLife owning the remainder. Other tenants in the building include Westpac Banking Corporation, Northwood Investors and cosmetics firm L’Oreal. Barney’s renewed its 71,000-square-foot office lease at the tower last year.

WeWork, which recently raised $300 million from Japanese investor SoftBank, has been aggressively adding spaces in New York.  In March the company signed a 95,000-square-foot lease at 205 Hudson Street.  [REW]Konrad Putzier


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
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
A photo illustration of the proposed Lower Platte River Corridor (Getty, Plan Preserve Play NE)
Nebraska lawmakers mull digging $1B recreation lake
Nebraska lawmakers mull digging $1B recreation lake
From left: Tishman Speyer CEO Rob Speyer, KKR co-founder Henry Kravis, and a rendering of 341 Ninth Avenue (Getty, Tishman Speyer)
KKR dumps Manhattan office plans
KKR dumps Manhattan office plans
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
arrow_forward_ios

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

Loading...