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

TRD New York /
Aug.August 14, 2018 03:30 PM

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.

Related Articles

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork CEO Adam Neumann (Credit: Getty Images and iStock)

WeWork’s side businesses are fizzling

Sarah Pontius (Credit: Union College)

Another head rolls at WeWork

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

Softbank Vision Fund senior managing partner Deep Nishar (Credit: SoftBank, Wikipedia)

“We are still in it”: Softbank still believes in WeWork’s core business

250th Issue

The Real Deal celebrates 250 issues

Knotel CEO Amol Sarva (Credit: iStock)

Knotel lays off up to a third of its New York-focused staff: sources

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years