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. Fifth Avenue A source close to WeWork said the company has “multiple funding options and offers” and is exploring its options. Lord & Taylor , which was scheduled to close the deal in August , paid $125m m deposit to move the deadline to one November . The company, which previously paid a deposit of $ 75 m, has one more option that allows it to pay another $25m to push the deadline to last October . At that point, if it is unable to complete, the another $25m paid converts into a stake 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. Lord & Taylor , which was scheduled to close the deal in August , paid $125m m deposit to move the deadline to one November . The company, which previously paid a deposit of $ 75 m, has one more option that allows it to pay another $25m to push the deadline to last October . At that point, if it is unable to complete, the another $25m paid converts into a stake in the building.