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WeWork, an office-sharing company, filed for Chapter 11 bankruptcy on Monday in New Jersey federal court months after the company expressed doubts about its ability to stay in business. WeWork announced the decision in a statement Monday, saying that filing for Chapter 11 bankruptcy was part of a “comprehensive reorganization to strengthen its capital structure and financial performance.” WeWork…
“Design firm to drop anchor at Dock 72 on Brooklyn waterfront” The design-and-innovation firm Huge signed a two-floors lease at Dock 72 at the Brooklyn Navy Yard — and it’s huge for Boston Properties and Rudin, the joint-venture developers of the ship-shaped waterfront building that shouts “cool factor.” The deal for 71,000 square feet on Dock 72’s…
“Jared Leto, Anne Hathaway and the crash-and-burn WeWork disaster” The “train wreck” scenario is played to the hilt in “WeCrashed,” a new Apple TV+ drama about the rise and spectacular fall of WeWork, the revolutionary shared-workspace startup that flamed out in historic Wall Street fashion to the tune of billions. The series, based on on…
“#WeWork’s Sandeep Mathrani buys $2M Bed-Stuy penthouse” Sandeep Mathrani — who assumed the top job at WeWork just weeks before the pandemic hit following Adam Neumann’s ouster — has just bought a $1.99 million penthouse triplex in Bed-Stuy. The spacious Brooklyn loft, at 105 Lexington Ave., is 1,818 square feet and comes with three bedrooms,…
“#Saks Fifth Avenue, WeWork to open office space in luxe stores” Saks Fifth Avenue’s owner is teaming up with co-working company WeWork to convert some of its retail space to office space as customers continue to do more of their shopping online. The luxury department store will open the first SaksWorks spaces in September in…
“#Feeling isolated at work is a growing health concern” Some equate loneliness with being a loser, unenthusiastic, hard to get along with, not personable, yet none of those labels fit actor, social media evangelist and COVID-19 investigator Samantina Zenon. Consider that during the pandemic she not only worked a full-time job, she also wrote a…
“#WeWork posts best sales numbers since 2019 IPO implosion” WeWork posted its best sales numbers in almost two years as the company seeks to go public while recovering from the twin blows of the pandemic and the implosion of its attempted 2019 initial public offering. The news comes as the SoftBank-backed company prepares to go…
“#WeWork’s ousted CEO Adam Neumann gets fattened exit package” WeWork’s ousted CEO Adam Neumann might finally find the door with a renegotiated exit package. Neumann received a juiced-up stock award worth $245 million, on top of $200 million in cash, as part of a sweetheart exit package from the office rental company he led to…
“#WeWork said it lost over $2B last quarter as it prepares to go public” Office-leasing company WeWork lost over $2 billion in the first quarter of 2021, as it prepares to go public through a SPAC deal more than a year after it initially sought to IPO. The company reported a net loss of $2.06…
“#60 Wall to exit the ’80s dated FiDi tower set for makeover” Hello to a more public-friendly 60 Wall St. — and farewell to one of the least-loved public spaces of the boom-and-bust 1980s. One of the Reagan Decade’s defining office skyscrapers is about to undergo a more than $250 million upgrade for the post-pandemic…