WeWork’s latest Manhattan lease is good for 62k SF over four floors at Chetrit Group’s 404 Fifth Ave, at 37th Street.
The term of the lease is 10 years, and it took effect on New Year’s Day 2016, reports the Commercial Observer. As of January, WeWork ranked 16th on a list of the largest office tenants in the borough compiled by The Real Deal, with a total of 1.4M SF. The figure didn't include this latest lease. The co-working giant has nearby locations that include 54 West 40th St, 450 Lexington Ave and 349 Fifth Ave.
The ask on the rent was $55/SF and NGKF’s Howard Kesseler Jr. and Matthew Feigen repped Chetrit, which has owned the Class-B building since 1998. [CO]
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