WeWork has yet to complete the deal to buy the former Lord & Taylor flagship store in Manhattan announced last October , and is still seeking an equity partner to complete the acquisition . WeWork Property Advisors , which was scheduled to close the deal in August , paid an additional $ 25 m deposit to move the deadline to 13 November . The company , which previously paid a deposit of $ 75 m , has one more option that allows it to pay another $ 25 m to push the deadline to 31 January . At that point , if it is unable to complete , the $ 125 m paid converts into a deposit in the building .
WeWork has yet to close the deal to buy the former Lord & Taylor flagship store in Manhattan announced last October, and is still seeking an equity partner to fund the acquisition. WeWork Property Advisors, which was scheduled to close the deal in August, paid an additional $25m deposit to move the deadline to 13 November. The company, which previously paid a deposit of $75m, has one more option that allows it to pay another $25m to push the deadline to 31 January. At that point, if it is unable to complete, the $125m paid converts into a stake in the building.