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WeWork Leases 12 Floors in Plaza District Tower
WeWork finalized a long-term, 362,197-square-foot lease at the William Kaufman Organization’s (WKO) 437 Madison Ave. The 12-floor block of space, leased 15 months ahead of an existing tenant’s lease expiration, brings the Plaza District tower to 98% occupied.
“After having a strong relationship with one long-term tenant for many years, we look forward to starting a new one with WeWork to bring in tenants of the same caliber,” said Jonathan Kaufman Iger, CEO of Sage Realty Corporation, WKO’s leasing and management arm. “In this environment where large blocks of space can sit on the market for months, if not years, our talented leasing team has brought in several interested parties and now successfully negotiated a deal 15 months before vacancy.”
Sage’s Michael Lenchner and a JLL team of Frank Doyle, David Kleiner, Cynthia Wasserberger, Hayley Shoener and Harlan Webster represented building ownership. JLL’s Peter Riguardi and Howard Hersch advised WeWork.
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