WeWork Signs 55000 Square Foot Lease At 245 Fifth Avenue With The Moinian Group

The asset involved in this transaction is an office space situated at 245 Fifth Avenue in Midtown Manhattan. This location encompasses 55,000 square feet and is owned by The Moinian Group, led by landlord Joseph Moinian.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 245 Fifth Avenue
• Market: Midtown Manhattan
• Landlord: Joseph Moinian - The Moinian Group
• Tenant: John Santora - WeWork
• Brokers: Ben Klau, Scott Klau, Erik Harris, Zach Weil, Cole Gendels, Aaron Ellison & Travis Milone - Newmark

This lease marks WeWork's second deal in New York City following its exit from bankruptcy, demonstrating the company’s continued presence in the market. The transaction was facilitated by a team of brokers from Newmark, highlighting the collaborative effort in securing this agreement.