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The international flexible office and workspace provider WeWork was founded by Adam Neumann in 2010. He had co-founded Greendesk in Brooklyn in 2008 and was looking to create a similar model on the other side of the East River with a brand new company.
Grand Street in Manhattan’s Soho was the location of WeWork’s first NYC property, which opened its doors in April 2011, and, following a hyper-rapid expansion in the following years, as of December 2022, the company provided flexible office space and workspace solutions in 779 properties in 39 countries through a portfolio of 18.3 million square feet of owned and leased office space.
Creating many headlines along the way for a multitude of reasons, the flex space provider had become the largest private occupier of Manhattan office space by 2018.
The business model was not new – leasing or buying office space and then subletting it in smaller units had been done by office providers for decades. Flexible workspace providers had already been offering agile alternatives to leased office space in the form of all-inclusive turn-key office suites and co-working memberships for many years.
However, WeWork brought energy, community, color, and its own twist to flexible office space offering more amenities, a leisurely and relaxed feel to its spaces, and events programs that included summer camp-style retreats.
It brought a culture to its spaces that has been somewhat emanated, yet not as aggressively, by thousands of coworking space providers around the world since, and made an indelible mark on the flexible workspace sector, truly bringing it into the mainstream.
WeWork was originally popular with start-ups and tech entrepreneurs and as it evolved became also popular with blue-chip corporates seeking to add flexibility into their real estate models including many Fortune 500 companies.
To fund its expedient growth, WeWork raised a lot of cash. The company then attempted an IPO in 2019 but this failed and the events of the 2020 pandemic created further issues for the company. Its second attempt to go public succeeded in 2021, this time through the use of a special-purpose acquisition company (SPAC).
In the first week of November 2023, there were rumors that WeWork would announce that it planned to file for bankruptcy protection as it reorganized.
This would likely allow the company to continue to operate and offer a full range of products including private ready-to-go offices, meeting rooms for hire, and coworking desk rentals although, at that time, it was unclear as to which properties would continue to offer these flex space solutions in the same guise in the long term.
Being such a large entity with a presence in so many countries and with varied relationships with so many landlords and third parties, it was expected that the reorganization of the business would take some time.
In the first week of November 2023, WeWork’s New York City office properties were listed as follows:
368 9th Avenue, New York, NY 10001
214 West 29th Street, New York, NY 10001
154 West 14th Street, New York, NY 10011
125 West 25th Street, New York, NY 10001
18 West 18th Street, New York, NY 10011
222 Broadway, 22nd Floor, New York, NY 10038
199 Water Street, New York, NY 10038
115 Broadway Street, 5th Floor, New York, NY 10006
11 Park Place, New York, NY 10007
85 Broad Street, New York, NY 10004
500 7th Avenue, New York, NY 10018
33 Irving Place, New York, NY 10003
609 Greenwich Street, New York, NY 10014
160 Varick Street, New York, NY 10013
8 West 126th Street, New York, NY 10027
575 5th Avenue, New York, NY 10017
450 Lexington Avenue, New York, NY 10017
16 East 34th Street, New York, NY 10016
430 Park Avenue, New York, NY 10022
575 Lexington Avenue, New York, NY 10022
750 Lexington Ave, New York, NY 10022
12 East 49th Street, New York, NY 10017
1450 Broadway, New York, NY 10018
142 West 57th Street, New York, NY 10019
450 Park Avenue South, New York, NY 10016
27 East 28th Street, New York, NY 10016
135 Madison Avenue, New York, NY 10016
148 Lafayette Street, New York, NY 10013
408 Broadway, New York, NY 10013
379 West Broadway, 2nd Floor, New York, NY 10012
524 Broadway, New York, NY 10012
1460 Broadway, New York, NY 10036
135 West 41st Street, 5th Floor, New York, NY 10036
1 Dock 72 Way, Brooklyn Navy Yard, Brooklyn, NY 11205
134 N 4th St., Williamsburg, Brooklyn, NY 11249
195 Montague Street, 14th Floor, Brooklyn, NY 11201
77 Sands Street, Dumbo Heights, Brooklyn, NY 11201