The company, which has been signing smaller leases as it targets companies that want a distinct space , signed a deal for the fourth and fifth floors of the 16-story building, a source told The Real Deal.
The transaction builds on the expansion of WeWork’s mid-sized portfolio in Manhattan. The company formalized its targeting of the segment by launching a program called “HQ by WeWork.” On Thursday, the company announced 440,000 square feet in lease deals under the new initiative, with its first locations at 490 Broadway, 149 Fifth Avenue, 115 East 23rd Street, 38 West 21st Street, 8 West 40th Street and 13-15 West 27th Street.
WeWork’s new West Village outpost will be located inside a landmarked property that sits at the corner of Leroy Street. The nine-story building was previously used as a warehouse before being converted into what was once the city’s largest jewelry factory.
Centaur Properties, headed by Harlan Berger, bought the building for $23 million in 2004, property records show. At the time of the purchase, it was nearly vacant. The firm renovated the 150,000-square-foot building soon after, expanding the lobby and adding office amenities. The property has recently become a hub for film and television production companies, with its tenant roster including media firms Postworks and ITV Studios.
WeWork declined to comment. Centaur did not immediately respond to requests for comment.