WeWork Nabs 96K SF in Three Manhattan Buildings for HQ by WeWork
By Nicholas Rizzi November 20, 2018 5:38 pm
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Coworking giant WeWork grabbed nearly 96,000 square feet in three Manhattan buildings for its recently launched HQ by WeWork offering for midsize tenants, the company announced Tuesday.
In the biggest deal, WeWork took 51,050 square feet on 11 floors of CIM Group’s 67 Irving Place between East 18th and East 19th Streets, a spokesman for WeWork said. The company plans to move an HQ member in the building in February.
A spokesman for WeWork would not provide terms of the deal, but CoStar (CSGP) Group data lists asking rents as between $58 and $68 per square foot.
CIM brokered the deal with an in-house team, while WeWork’s executive vice president of real estate Arash Gohari handled it for the company. Names of the CIM brokers were not immediately clear and a spokesman for the landlord did not respond to a request for comment.
WeWork also inked a 28,600-square-foot deal for three floors of APF Properties’ 1156 Avenue of the Americas between West 44th and West 45th Streets for a member to move in the first half of next year, a spokesman for WeWork said. Terms of the deal were unclear but CoStar lists asking rent in the nine-story building as between $57 and $69 per square foot.
Brokers from Newmark (NMRK) Knight Frank handled the deal for APF, while Gohari represented WeWork in the deal. A spokesman for NKF did not immediately provide a comment on the deal.
In the smallest of the three deals, WeWork nabbed 16,000 square feet in Walter & Samuels’ 225 West 39th Street between West 39th and West 40th Streets, as per the WeWork spokesman. The spokesman would not provide terms of the deal but the building has an average asking rent of $46.50 per square foot, according to CoStar.
Walter & Samuels handled the deal in-house while Gohari represented WeWork in the lease. A spokeswoman for the landlord did not immediately provide a comment for the deal.
“Since launching HQ by WeWork in August, we’ve seen incredible demand from companies wanting us to create their own bespoke office space, as reflected by each of our existing locations opening at full occupancy,” Granit Gjonbalaj, the chief development officer for WeWork, said in a statement.
