The Real Deal New York

WeWork just inked the biggest lease in the Plaza District in over a year

Asking rent at 750 Lexington was $80 psf
January 30, 2018 08:30AM

750 Lexington Avenue anf Adam Neumann

WeWork just inked a 15-year lease at Cohen Brothers Realty’s 750 Lexington Avenue.

The co-working giant agreed to take 111,500 square feet in the office tower, marking the largest lease signed in the Plaza District in more than a year, the New York Post reported. Asking rent for the space was $80 per square foot.

Marc Horowitz, director of national office leasing at Cohen Brothers Realty, represented the landlord. With this deal, the 400,000-square-foot building is 95 percent leased.

Last year, WeWork signed a lease for 60,000 square feet at Cohen’s 135 East 57th Street. The company has since increased its footprint there to 125,000 square feet.

WeWork ranked as the 11th-largest office tenant in Manhattan in 2016, according to data CoStar provided to The Real Deal. Meanwhile, in London, the company is the largest corporate occupier in Central London, having leased 2.6 million square feet of space since 2012. [NYP]Kathryn Brenzel