The Real Deal New York

Two years later, WeWork finally inks a deal at the Brill Building

The company previously had a deal to take 50k sf in the building
By Christian Bautista | August 16, 2018 05:00PM

Adam Neumann and the shots of the Brill Building at 1619 Broadway (Credit: Wikipedia and Getty Images)

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.