WeWork has closed a lease transaction at the Brill Building in Midtown, finalizing a deal that has been on and off for the past two years.
The company signed a lease for over 75,000-square feet in the property, The Real Deal has learned. The 15-year lease is for floors five, six, seven, 10 and 11.
The property, at 1619 Broadway, is a landmarked 11-story, 175,000-square foot property at the corner of West 49th Street. Brookfield Asset Management’s real estate debt fund gained ownership of the building after winning a foreclosure auction in March of last year.
Before the property changed hands, WeWork had a pending 50,000-square-foot lease deal with the previous owners Allied Partners and Brickman.
The deal continues the co-working company’s torrid pace of deals in Manhattan. On Wednesday, the firm announced a 285,000-square-foot lease at TH Real Estate’s 21 Penn Plaza. The transaction appears to be the largest co-working lease signed in the borough so far this year. The company also closed a nearly 70,000-square-foot lease at Jack Resnick & Sons’ 880 Third Avenue earlier this week.
Brookfield did not immediately respond to requests for comment.