Event is Exclusive for The Real Deal Subscribers!
Nearly one year ago, storied co-working company WeWork exited a notorious bankruptcy, ripe with all the plot twists many have come to expect from one of the buzziest companies of the 21st century. Once valued by private investors at $47 billion, WeWork entered bankruptcy in 2023 with debts of $18.65 billion and assets of $15.06 billion. The firm renegotiated 190 leases and quit 170, reducing its annual rent and tenancy expenses by more than $800 million. They exited bankruptcy in large part thanks to slashing debt, bringing in an equity partner in Yardi Systems, and new leadership.
At the helm as CEO today is John Santora, a former Cushman & Wakefield executive who’s been hard at work reworking how the once skyrocketing firm operates in its post-bankruptcy era. The company line today seems less “change the world” and more “slow and steady.” The firm still has a portfolio that spans roughly 45 million square feet across 600 locations in 37 countries, including the largest NYC office lease of 2024 at Penn Plaza and an additional 112,000 square feet recently leased on behalf of tech giant Amazon.
Join TRD and John Santora for an exclusive, live conversation in TRD’s HQ about the new era of WeWork, the future of office space, and how its business model has evolved to meet today’s office market needs.
The Salon Series is sponsored by our friends at Bosch, Thermador, and Gaggenau.
