WeWork takes over Tumblr’s old HQ

Co-working company will use location for its HQ by WeWork division
September 28, 2018 01:45PM

35 East 21st Street and WeWork’s Granit Gjonbalaj (Credit: Google Maps and Propco Holdings)

WeWork signed a lease for all 100,000 square feet of office space at the Flatiron District building that previously served as Tumblr’s headquarters.

The co-working company inked the deal at Centaur Properties’ 35 East 21st Street for its HQ by WeWork division, which targets medium-sized companies with 11 to 250 employees, Commercial Observer reported.

The asking rent and the length of the lease were not reported.

WeWork said it expects HQ by WeWork to have about 1 million square feet across the company’s portfolio by next summer.

“Since we launched HQ by WeWork in July, hundreds of companies have come to us looking for private, flexible and cost-efficient spaces,” Granit Gjonbalaj, the company’s chief development officer, told the publication.

Newmark Knight Frank’s Daniel Levine represented Centaur Properties in the deal. WeWork did not have a broker.

Social media website Tumblr used to have its headquarters at the building before it consolidated offices with Yahoo following the company’s $1.1 billion acquisition in 2013.

WeWork earlier this month announced it is Manhattan’s largest private office tenant with a portfolio totaling 5.3 million square feet. [CO] – Rich Bockmann