{"id":1004258654,"date":"2018-08-20T04:53:17","date_gmt":"2018-08-20T12:53:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004258654"},"modified":"2022-12-07T21:48:52","modified_gmt":"2022-12-08T05:48:52","slug":"wework-leases-70-ksf-in-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wework-leases-70-ksf-in-manhattan\/","title":{"rendered":"WeWork Leases 70 KSF in Manhattan"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"880<\/a>

880 Third Ave.<\/p><\/div>\n

Jack Resnick & Sons has signed WeWork to a 69,679-square-foot lease at 880 Third Ave., an 18-story office tower in Manhattan.<\/p>\n

The 15-year lease by the collaborative workspace provider brings the Plaza District boutique office building to full occupancy. No details on the amount WeWork will pay, but rents at the property are averaging around $65 per square foot.<\/p>\n

\u201cWe are pleased to welcome WeWork to 880 Third Ave., which is now fully leased thanks to our talented team of brokers and real estate attorneys,\u201d <\/em>Jonathan Resnick, Jack Resnick & Sons\u2019 president, said in a prepared statement. \u201cWe\u2019re confident WeWork and its clients will benefit from our building\u2019s outstanding location, first-rate infrastructure and quality service.<\/em><\/p>\n

Expanding in Manhattan<\/strong><\/h2>\n

WeWork will move into the building later this summer and take space on floors 5, 6, 9, 10, 11, 12 and 13, and its lease will include two outdoor terraces on the 12th floor.<\/p>\n

Earlier this week, WeWork signed a lease with TH Real Estate to occupy 258,344 square feet at 21 Penn Plaza<\/a>, a Class A office building located at 368 Ninth Ave., at the intersection of Ninth Avenue and West 31st Street in Manhattan. In April, WeWork signed a full-building lease at 430 California St.<\/a> in San Francisco. The company is occupying 252,000 square feet at the property, which is co-owned by Kennedy Wilson and Takenaka Corp.<\/p>\n

In-demand property<\/strong><\/h2>\n

880 Third Ave. has a tenant roster that also includes The Trustees of Columbia University; Culbro LLC; Kempen & Co., USA; QS Investors; Jaffe Ross & Light; and Fisher Harris Shapiro. Retail tenants consist of TD Bank, Gregorys Coffee and Pret A Manger. <\/p>\n

The building recently underwent several capital improvements, including the addition of a new aluminum curtain wall system, new windows, new cooling tower and a distinctive double-height stone and glass lobby and two-story retail storefronts. There\u2019s also a modernized elevator system with new cabs at the property. Artwork by Lydia Donna is featured throughout the building.<\/p>\n

Ken Ruderman and Andrew Zang of Savills Studley represented WeWork in the lease, along with the company\u2019s in-house leasing agent David Sadkin, in-house general counsel Mathew Brandt, and a Kasowitz, Benson Torres LLP team led by Adam Endick and Steven Shafer. <\/p>\n

Jack Resnick & Sons was represented by an in-house leasing team of Brett Greenberg and Fran Delgorio, an in-house legal team of Kalapna Gajjar and Thomas Ruggiero, and Meyer Last of Fried, Frank, Harris, Shriver & Jacobson LLP. <\/p>\n

\u201cWe were thrilled to have been involved in this creative transaction,\u201d <\/em>Ken Ruderman, Savills Studley\u2019s vice chairman & co-branch manager, said. \u201cThe collaboration of numerous skilled professionals is the reason the deal got done, and it allowed our client to establish a relationship with Jack Resnick & Sons, one of the city\u2019s benchmark owners\/builders.\u201d<\/em><\/p>\n

Image courtesy of Jack Resnick & Sons<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The collaborative workspace provider has signed a 15-year agreement with Jack Resnick & Sons to occupy seven floors at the 880 Third Ave. office tower.<\/p>\n","protected":false},"author":451,"featured_media":1004258693,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21808,1600,21742,10,21747],"tags":[42461,33237,32775,38832,33678],"class_list":["post-1004258654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-featured","category-new-york","category-latest","category-northeast","category-office","tag-coworking","tag-kennedy-wilson","tag-savills-studley","tag-takenaka-corporation","tag-wework"],"acf":[],"yoast_head":"\nWeWork Leases 70 KSF in Manhattan - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wework-leases-70-ksf-in-manhattan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WeWork Leases 70 KSF in Manhattan\" \/>\n<meta property=\"og:description\" content=\"The collaborative workspace provider has signed a 15-year agreement with Jack Resnick & Sons to occupy seven floors at the 880 Third Ave. office tower.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wework-leases-70-ksf-in-manhattan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-20T12:53:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:48:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/880-Third-Ave..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-leases-70-ksf-in-manhattan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wework-leases-70-ksf-in-manhattan\/\",\"name\":\"WeWork Leases 70 KSF in Manhattan - 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