WeWork Unveils Plans for Historic Lord & Taylor Manhattan Building
Taking over Lord & Taylor’s historic Fifth Avenue site, WeWork has unveiled its plans for the 700,000-square-foot building in Manhattan. The site had been occupied by Lord & Taylor since 1914, and now the renovation plans must be approved by the Preservation Commission.
Facing debt and increased competition, Lord & Taylor had plans to shutter its doors after Christmas, but WeWork swooped in with financial partners to buy the building for a reported $850 million. Designated as a historic landmark in 2007, the Italian Renaissance Revival edifice will maintain its historic facade while undergoing interior restorations, and receiving upgrades to be wheelchair accessible.
Under the direction of the project’s chief architect, Bjarke Ingels, the plans showcase a translucent glass courtyard designed for employee usage. The intention is to leave the basement, first and second floors open for retailers, yet the tenants are unannounced as of now.
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