Real Estate
WeWork Strikes New Agreement at NYC Office Tower in Quest for Viability
- Coworking firm filed for bankruptcy earlier this year
- Company reached a new agreement for space at 1440 Broadway
The deal with 1440 Broadway allows WeWork to maintain a foothold in a New York City building that’s in the heart of Times Square.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
WeWork Inc., the embattled coworking giant navigating a bankruptcy, is keeping a Manhattan office spot largely leased to Amazon.com Inc. through a deal that includes reduced rent and a shortened lease term.
WeWork reached a new agreement with its landlord for its space at 1440 Broadway, according to a filing Tuesday. The firm will continue to operate 300,000 square feet (28,000 square meters) spanning 10 floors at the building. The court will still need to approve the agreement.