The Real Deal New York

WeWork snaps up two more big spaces
in Manhattan

Company will take about 61K sf at 57 East 11th Street and 45K sf at 148 Lafayette Street
November 09, 2018 01:46PM

57 East 11th Street, 148 Lafayette Street, and Adam Neumann (Credit: Property Group Partners and Getty Images)

WeWork has inked another pair of leases in Manhattan totaling 106,320 square feet.

The company has signed leases at Winter Properties’ 57 East 11th Street and Epic’s 148 Lafayette Street, according to the Commercial Observer. It will occupy the entire 11-story building at 57 East 11th Street in Greenwich Village, spanning 61,375 square feet, and it will occupy the third through seventh floors at 148 Lafayette Street, spanning 44,945 square feet.

The East 11th Street lease is for 15 years, and asking rents were $110 per square foot on the ground floor and $97 per square foot from the second to 11th floors. Details for the Lafayette Street lease were not available.

WeWork intends to move into 57 East 11th Street as soon as possible and open at 148 Lafayette Street in the first six months of next year.

The co-working giant has also recently signed leases in Manhattan at 609 Fifth Avenue and 149 Madison Avenue.

The Wall Street Journal reported last month that SoftBank is considering taking a majority stake in WeWork, which could result in an investment of up to $20 billion. [CO]  – Eddie Small