WeWork Tacking on a 16K-SF Floor at Metropolitan Tower on West 57th Street
By Lauren Elkies Schram January 26, 2017 2:04 pm
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WeWork is expanding at Metropolitan Tower by 15,586 square feet, or the entire ninth floor, bringing its total square footage in the building to 93,516, Commercial Observer has learned.
The coworking behemoth leased 77,930 square feet in the building at 142 West 57th Street between Avenue of the Americas and Seventh Avenue last September, as CO previously reported, on the entire sixth, seventh, eighth, 10th and 11th floors.
The new lease is for 16 years and two months and the asking rent was $70 per square foot, a source told CO. The company will assume the ninth floor in April.
Peter Riguardi and Alexander Chudnoff of JLL represented WeWork in the deal. Andrew Wiener of L&L Holding Company, the owner of the building along with Mitsubishi Corporation and GreenOak Real Estate, worked on behalf of the landlords in-house. Mr. Wiener didn’t immediately respond to a request for comment and nor did a spokesman for JLL.
The 18-story Metropolitan Tower, built in 1986, is home to tenants including L&L, Och-Ziff Capital Management Group, Capital Z Partners, G2 Investment Group and Hutchin Hill Capital.
