Leases  ·  Office

WeWork to Open 66K-SF Coworking Space, Private Roof Deck Included, in Hell’s Kitchen


WeWork has signed a 66,000-square-foot lease for office space at 311 West 43rd Street, landlords William Macklowe Company and Principal Real Estate Investors announced today.

The shared office providing giant will occupy the 10th through 14th floors of the 14-story building, plus the penthouse and the roof deck. Asking rent for space in the building is in the mid-$60s range, according to a news release from the landlords.

SEE ALSO: L.A.’s Multifamily Market ‘Winding Down’: Report

The landlords will make a separate entrance for WeWork with its own branding as part of the 15-year transaction. The spaces are in loft style with 13.5-foot high ceilings and nearly floor-to-ceiling windows. WeWork is expected to move into the building in early 2017, according to a spokesman for the landlords.

“This is a win-win for all parties involved,” Billy Macklowe, the chief executive officer of William Macklowe Company, said in a prepared statement.

Referring to nearby tech companies and restaurants in the area, Macklowe added: This is an “ideal location and environment for the WeWork community.”

The landlords, which acquired the building in December 2015 for $107 million, recently completed a renovation of the property and rebranded the old printing building as an office structure called “The Press.”

The Real Deal was first to report news of the lease deal.