WeWork in talks to take 300K sf at Rudin’s 110 Wall St.

Workspace provider may convert upper floors into residential rentals

From left: Bill Rudin, 110 Wall Street and Adam Neumann
From left: Bill Rudin, 110 Wall Street and Adam Neumann

Collaborative workspace provider WeWork is in talks to sign its largest space yet, an entire 27-story, 300,000-square-foot Downtown office tower owned by Rudin Management. WeWork would open office space on the lower floors of 110 Wall Street, and in its first foray into the residential market, would rent out residential units on the upper floors.

WeWork, which recently took 86,000 square feet lease at ACTA Realty’s Cunard Lines Building at 25 Broadway, has yet to finalize the  110 Wall Street deal, several sources told Crain’s. If it goes through, it will be a coup for the struggling tower, which took a battering during Hurricane Sandy.

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Executives familiar with the talks told Crain’s that WeWork was looking to create micro-apartments and some communal living space. Rudin Management did not respond to Crain’s requests for comment, and a WeWork spokesperson told Crain’s that the company doesn’t comment on its leasing decisions.

“We’re very bullish on lower Manhattan and have done very well in the location that we have there at 222 Broadway,” the spokesperson said. “But we’re not ready to comment yet beyond that.” [Crain’s]Hiten Samtani