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Deals & Dealmakers

WeWork leases 61,000 s/f Winter building

WeWork has leased Winter Properties’ 61,375 s/f office building at 57 East 11th Street.

The global network of workspaces signed for the entire Class A property located in Greenwich Village.
The building owner was represented by JLL vice chairman Alexander Chudnoff, along with Jonathan Fanuzzi and Kip Orban, along with Jay Stark, COO, and Scott Milsom, director of development and operations, at Winter Properties.

WeWork was represented by Bruce Mosler, chairman of global brokerage, and Ethan Silverstein, vice chairman, with Cushman & Wakefield Inc.

“The combination of the location, the boutique nature of the building and the renovations completed by Winter Properties created a great deal of interest in this asset,” said Chudnoff.

“We saw so much demand from tenants looking for anything from a single floor to the entire building that we could have leased 57 East 11th Street several times over. The strong interest allowed us to achieve a maximum result for ownership.”

WeWork inked a 15-year lease for 61,375 s/f of office space and will occupy the ground floor through the 11th floor at 57 East 11th Street, which is located between Broadway and University Place in Greenwich Village.

Winter Properties, a related business of Standard Industries, is a vertically integrated real estate investment management and development firm, launched the redevelopment of 57 East 11th Street in 2017, tapping JLL to serve as exclusive leasing agent.

Fanuzzi commented “The building owner put a tremendous amount of work into transforming this 1900s vintage property into one of the most desired boutique office buildings in Midtown South.”

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