WeWork taking majority of Abner building on 14th St.

Coworking giant has been showing the space to potential corporate members

TRD New York /
Feb.February 06, 2018 08:21 PM
154 West 14th Street and Adam Neumann

154 West 14th Street and Adam Neumann

WeWork quietly signed a lease for more than 120,000 square feet on 14th Street, at a property that could house the coworking colossus’ next big corporate member.

The company is taking 122,000 square feet across six floors at Abner Properties’ 154 West 14th Street, sources told The Real Deal.

But WeWork’s kept mum on the 15-year lease and hasn’t yet advertised the location. That’s because it’s been showing the space to several large tenants that could occupy all or a large portion of the space through its corporate membership program, according to sources familiar with the process.

A spokesperson for WeWork was not immediately available to comment.

Abner’s 12-story, 166,000-square-foot building at the corner of 7th Avenue lies on the Chelsea/Greenwich Village border and is a short walk from WeWork’s location at 88 University Place. The company last year inked a marquee deal there, signing IBM to a membership deal for all the desks at the nearly 90,000-square-foot Village building.

Asking rent at 154 West 14th Street was $60 per square foot. A representative for Abner, which has owned the property for decades, referred inquiries to the leasing agents at Koeppel Rosen, who declined to comment.

Earlier this year, WeWork signed a deal for slightly more than 110,000 square feet in the Plaza District at Cohen Brothers Realty’s 750 Lexington Avenue.

The company, which was valued at north of $20 billion after a Softbank-led funding round in August, signed a contract last year to buy Lord & Taylor’s flagship store on Fifth Avenue for $850 million – another location that’s been rumored to be a potential destination for a large corporate member. And in November, Amazon signed a membership deal to take all the WeWork desks at 2 Herald Square.

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