WeWork has secured its first location in Manhattan’s Plaza District.
The company has signed a long-term lease for four full floors at Charles S. Cohen’s Tower 57, the distinctive 32-story office tower at 135 East 57th Street. The building, best known for its spectacular curved façade and breath-taking entranceway, occupies the northwest corner of 57th Street and Lexington Avenue.
“We are thrilled with the elite tenants that are being attracted to our property,” stated Mr. Cohen. “It’s an indication of the desirability of the 57th Street’s easterly corridor as well as the continued demand for well located Class A office space in the midtown district.”
The Schoen team of Savitt Partners represented WeWork in the leasing transaction while Marc Horowitz, Senior Vice President and National Director of Office Leasing at Cohen Brothers Realty Corp., represented the landlord.
According to Mr. Horowitz, some full floors, ranging from 7,000 to 13,500 square feet, are still available in the building. WeWork leased the entire 6th, 7th, 8th and 11th floors of the tower.
WeWork provides their members with the space and services they need to create their life’s work. Members range from new media businesses to emerging entrepreneurs to large companies who share a common belief in a new way of working and living. 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. He refurbished and transformed the property’s adjoining vest pocket park into one of the city’s most beautiful public spaces in 2001.
Charles S. Cohen heads a multi-faceted real estate development company that owns and manages over eleven million square feet of prime Manhattan, West Side Los Angeles, Houston and Florida commercial space. In addition to 135 East 57th Street, his other signature New York properties include 623 Fifth Avenue, 622 Third Avenue, 750 Lexington Avenue, 3 East 54th Street, 805 Third Avenue, 3 Park Avenue, 475 Park Avenue South and the D&D Building at 979 Third Avenue.