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

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

arrow_forward_ios
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
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
WeWork’s side businesses are fizzling
Sarah Pontius (Credit: Union College)
Another head rolls at WeWork
Another head rolls at WeWork
Renderings of Greenpoint Landing in Greenpoint, 141 Willoughby Street in Downtown Brooklyn and 45-57 Davis Street in Long Island City (Photos via OMA, SLCE Architects and J Frankl Architects)
These were the top outer-borough loans in May
These were the top outer-borough loans in May
The New York Life Sciences and Biotechnology Center at First Avenue and 41st Street (NY Life Sciences)
Life sciences leasing breaks annual record in five months
Life sciences leasing breaks annual record in five months
The commercial market was hit hard by the pandemic, and property tax revenue is expected to fall 5 percent. (iStock)
Tax bills show how much Covid devalued NYC real estate
Tax bills show how much Covid devalued NYC real estate
Richard Segal of Seavest Investment Group, David Marx of Marx Development Group and 902 Quentin Road in Brooklyn (Photos via Seavest Investment Group, Marx Development Group and VRMNY)
Westchester firm buys $54M Brooklyn medical building
Westchester firm buys $54M Brooklyn medical building
Real Estate EFTs See Investment Amid Pandemic Recovery
Why investors are rushing into real estate ETFs
Why investors are rushing into real estate ETFs
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...