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Deals & Dealmakers

WeWork expands at Charles Cohen’s Tower 57 in the Plaza District

Seven months after leasing four full floors at Charles S. Cohen’s Tower 57 for its first Plaza District location, WeWork has signed on for an additional three floors in the building.

The deal brings its total footage at the 32-story office tower at 135 East 57th Street to nearly 100,000 s/f.

The expansion move, which comprises approximately 40,000 s/f adds the 14th, 15th and 16th floors to WeWork’s growing presence in the Plaza District.

The shared office giant had previously leased the building’s 6th, 7th, 8th and 11th floors.

The Schoen team of Savitt Partners LLC represented WeWork in the 13.5 year lease while Marc Horowitz, senior vice president and national director of office leasing at Cohen Brothers Realty Corp., represented the landlord. Asking rent was in the high $70 range.

According to Horowitz, some full floors, ranging from 7,000 to 13,500 s/f are still available in the building, which is now 85 percent leased.

WeWork has rapidly expanded its footprint throughout New York City, including such trendy neighborhoods as Hudson Square, Soho and the Meatpacking District.

It is also active in major markets throughout the country including San Francisco, Los Angeles and Washington, DC.

Opened in 1986, 135 East 57th Street, which was designed by the architectural firm of Kohn Pederson Fox, was acquired by Charles S. Cohen in 1997.

Cohen refurbished and transformed the property’s adjoining vest pocket park into one of the city’s most beautiful public spaces in 2001.

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