Some New York City landlords that have lost their fallback tenant are turning to WeWork’s competitors to discuss options for filling empty space. The company has been in talks with several landlords, including the owners of a building at Broadway and West 42nd Street where it is currently leasing space from an investment firm. Alternatively it could be acquired by a larger firm. Neither option is reassuring for landlords and any uncertainty about rent being paid can have a ripple effect. A collapse of the company would impact individual landlords more that the overall market, according to The Real Deal. Some real estate investors are watching, ready to buy if the fallout presents an opportunity to acquire distressed assets.
Some New York City landlords that have lost their fallback tenant are turning to WeWork’s competitors to discuss options for filling empty space. The co-working provider is understood to be in talks with bankers to raise fresh funding. Alternatively it could be acquired by a larger firm. Neither option is reassuring for landlords and any uncertainty about rent being paid can have a ripple effect. A collapse of the company would impact individual landlords more that the overall market, according to The Real Deal. Some real estate investors are watching, ready to buy if the fallout presents an opportunity to acquire distressed assets.