Following WeWork's pulled IPO, the company has pulled out of negotiations for a number of large lease deals in New York and Boston, Crain's New York Business reports. Deals cancelled include more than 50,000 sq ft at 120 Broadway, "hundreds of thousands of sq ft" at 250 Broadway, space at 5 Times Square and 240 Madison Avenue, whilst 100,000 sq ft at 63 Madison Avenue is on hold. WeWork closed a deal for at least 360,000 sq ft at 437 Madison Avenue last month, but only because the landlord demanded six-months rent upfront, Crain's reports. It is not just New York City where deals are in jeopardy. The company's new office will be located in Manhattan's Soho neighborhood, which it says offers "a great mix of creative professionals with an entrepreneurial spirit.
Following WeWork's pulled IPO, the company has pulled out of negotiations for a number of large lease deals in New York and Boston, Crain's New York Business reports. Deals cancelled include more than 50,000 sq ft at 120 Broadway, "hundreds of thousands of sq ft" at 250 Broadway, space at 5 Times Square and 240 Madison Avenue, whilst 100,000 sq ft at 63 Madison Avenue is on hold. WeWork closed a deal for at least 360,000 sq ft at 437 Madison Avenue last month, but only because the landlord demanded six-months rent upfront, Crain's reports. The company's new office will be located in Manhattan's Soho neighborhood, which it says offers "a great mix of creative professionals with an entrepreneurial spirit.