Beacon Capital Partners announced that WeWork, the global workspace, community and services provider, has signed a lease for 58,000 s/f at 575 Fifth Avenue.
Beacon and MetLife co-own the building. WeWork will occupy four floors (14 – 17) in the recently renovated Class A office building.
Other office tenants include Barneys New York, Westpac Banking Corporation and Northwood Investors. For more than 30 years, the property served as the headquarters for cosmetics company L’Oréal, which continues to occupy 24,000 s/f.
Located in Midtown at the corner of East 47th Street and Fifth Avenue, the 40-story building is near Grand Central Terminal.
“We are proud to be part of WeWork’s continued expansion in Midtown. WeWork is exactly the kind of forward-thinking, innovative growth company we hoped to attract,” said Chris Gulden, senior vice president, Beacon Capital Partners.
Beacon Capital Partners has completed extensive capital improvements at the property, including a renovated and modernized lobby featuring digital LED screens with customized media and specially-captured footage from around New York City.
TWeWork members will have access to the building’s 6,000 s/f conference center and tenant lounge, in addition to WeWork’s signature offerings.
Other amenities include a bike room, messenger room and enhanced security with a 24/7 manned desk.
Technology upgrades have earned 575 Fifth Avenue Gold WiredScore certification and the building is an Energy Star rated and LEED Existing Building Gold certified property.