WeWork disclosed in a bankruptcy filing on Monday that it intends to reject a lease encompassing 20 floors in Tower 49 in Midtown Manhattan—including its corporate headquarters and coworking space for 2,800 WeWork members.
The coworking giant, which is closing up to 150 of its locations in a bankruptcy restructuring, notified the court that it will end its operations at Tower 49 on May 31 after unsuccessful negotiations to restructure a 300K SF lease in the building, which is located at 12 East 49th Street.
WeWork has been a tenant in Tower 49 since July 2016, when it entered a lease for 10 floors encompassing 159K SF in the building, which is owned by Kato International.
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