Following WeWork 's pulled ##out , 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 . Projects cancelled include more than 50,000 sq ft at 1 Broadway , " tens 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 . Its highly anticipated initial public offering went south last month, its $47B private valuation was slashed to somewhere less than $20B and co-founder Adam Neumann was forced to resign as CEO. 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 , Barron 's reports . Two landlords pulled out of negotiations in Boston , Bisnow reported .
Following WeWork 's pulled ##out , 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 . Projects cancelled include more than 50,000 sq ft at 1 Broadway , " tens 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 , Barron 's reports . Two landlords pulled out of negotiations in Boston , Bisnow reported .