The Real Deal New York

WeWork is taking 7 floors at Jack Resnick’s 880 Third Avenue

The firm signed a nearly 70K sf lease in the Plaza District tower
By Christian Bautista | August 14, 2018 03:30PM

Adam Neumann and 880 Third Avenue (Credit: Getty Images)

WeWork is taking seven floors at 880 Third Avenue in the Plaza District.

The co-working firm signed a 15-year lease for just under 70,000 square feet, according to landlord Jack Resnick & Sons. Asking rents were in the $65 per-square-foot range.

WeWork’s space will cover floors five to six and nine to 13. As part of the transaction, WeWork will get to occupy the outdoor terraces on the 12th floor and have its branding displayed on the exterior of the building.

The deal expands WeWork’s locations in Midtown East to seven, according to its website. Last January, the firm closed one of its largest Manhattan leases of the year in the Plaza District, signing a 111,500-square-foot deal at Charles Cohen’s 750 Lexington Avenue.

The transaction brings the 18-story office tower to full occupancy. Other tenants in the building include the Trustees of Columbia University, Dutch bank Kempen & Co., finance firm QS Investors and risk management company Fisher Harris Shapiro. TD Bank, Gregory’s Coffee and Pret A Manger occupy the retail space in the property.

Resnick completed construction on the property in 1962. The building recently underwent a renovation, giving way to a new glass lobby and two-story retail fronts.

Savills Studley’s Ken Ruderman and Andrew Zang represented WeWork. Meanwhile, Brett Greenberg and Fran Delgorio represented Jack Resnick in-house.