After some financing delays, the sale officially closed in early 2019. Symbolism of the Move
At the time, WeWork was one of the world's highest-valued startups (peaking at $47 billion) and was aggressively expanding its physical footprint. wework buys lord and taylor building
The deal quickly became a "white elephant" for WeWork following its failed IPO attempt in 2019 and the ousting of co-founder Adam Neumann. After some financing delays, the sale officially closed
Renowned architect Bjarke Ingels was hired to oversee a massive renovation that aimed to preserve the building’s Italian Renaissance-style facade while modernizing the interior. The Downfall and Resale Renowned architect Bjarke Ingels was hired to oversee
The acquisition of the historic by WeWork (as part of a joint venture with Rhône Capital ) was a landmark real estate deal that signaled a major shift in Manhattan’s commercial landscape. The Deal Overview