Office Space News
Published January 11th, 2014 by Jennifer LeClaire
NEW YORK CITY – WeWork is among the many alternative workspace providers making moves in the New Year. The collaborative office space brand just inked a 15-year, 63,300-square-foot lease at 401 Park Ave. South. That marks the firm’s 12th executive office suites in New York.
“WeWork has been actively searching for the right opportunity for our business in Midtown South; after touring 401 Park Avenue South we immediately knew we had found it,” Mark Lapidus, director of real estate at WeWork, told GlobeSt.com. “The high ceilings, efficient wide-open floors, and great natural light fit exactly the aesthetic we were looking for and will enable us to create the culture that defines the WeWork brand.”
401 Park Ave. South is a 250,000-square-foot, 12-story office building strategically located on the southeast corner of east 28th street and Park Avenue South in Midtown South. Meringoff Properties owns the building, which is smack dab in the middle of a technology, media and advertising hub.
Adjacent to the 28th Street stop of the 6 Subway, 401 Park Avenue South is surrounded by boutique hotels, of-the-moment dining, nightlife and Madison Square Park. The building’s high ceilings and an abundance of natural light are workplace characteristics that are highly attractive to technology, media, design and other creative users. The building features two newly renovated distinctive lobbies on Park Avenue South and 28th Street.
“We knew WeWork was on to something unique and special after meeting with Adam Neumann, co-founder of We Work, one year ago,” Stephen Meringoff, partner at Meringoff Properties, told GlobeSt.com. “Having toured a number of their locations, and understanding what they have on the horizon, we all recognized that 401 Park Avenue South would be an ideal location for their business since the neighborhood has become the axis of New York’s burgeoning technology and creative industries.”