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WeWork Makes First Move Into The Plaza District


Co-working giant WeWork is continuing its expansion throughout the city, this time by signing on for its first space in Midtown’s Plaza District.

The company has signed on to take over four floors spanning 60k SF at Charles S. Cohen’s 135 East 57th St. Asking rents for the space at the building, also known as Tower 57, are carrying a price tag of $80 per SF, the New York Post reports.

Savitt Partners’ Schoen team repped WeWork, while Cohen handled things in-house. The deal with WeWork brings the office occupancy level at Tower 57 to 80%. The majority of the building’s two-level retail space was recently leased to Saks OFF 5th.

This is the latest lease in the city for WeWork, the co-working company that was founded in 2010 by Adam Neumann and Miguel McKelvey. The company has already reached a market valuation of $16B, and occupies roughly 2M SF in 30 cities across the globe. Last month, WeWork signed on for 62k SF at Chetrit Group’s 404 Fifth Ave. [NYP]