The Real Deal New York

WeWork takes 167K sf near Chelsea HQ

Co-working company last year started making more elbow room at its corporate offices
February 28, 2018 02:00PM

Adam Neumann and 18 West 18th Street

WeWork members who got booted from the co-working giant’s Chelsea headquarters may not have to go far to find new desks.

The $20 billion company signed a lease for a new location a block away from its corporate office on West 18th Street, the Commercial Observer reported.

WeWork inked a deal for roughly 167,000 square feet at the Schaffer family’s 18 West 18th Street, which is the entire office portion of the 11-story building, according to the CO.

The property is not far from WeWork’s headquarters at 115 West 18th Street, where last year it reportedly gave 500 members the boot at the 80,000-square-foot facility to make way for WeWork’s office in the building.

WeWork plans to move its corporate headquarters to the Lord & Taylor building at 424 Fifth Avenue when it completes its $850 million acquisition of the 676,000-square-foot building along with partner Rhone Group.

The company earlier this year signed a lease for 120,000 square feet at 154 West 14th Street. [CO]Rich Bockmann