57 E. 11th St., Greenwich Village, New York City
NEW YORK CITY—WeWork signed a 15-year lease for Winter Properties' entire 61,375-square-foot boutique office building in Greenwich Village at 57 E. 11th St. The asking rent was $97 per square foot on the office floors and $110 per rentable square foot on the ground floor which includes retail space.
The building owner was represented by JLL's Alexander Chudnoff, Jonathan Fanuzzi and Kip Orban, along with Jay Stark and Scott Milsom of Winter Properties. WeWork was represented by Bruce Mosler and Ethan Silverstein from Cushman & Wakefield. The co-working and flexible office space provider plans to move in as soon as possible.
“The combination of the location, the boutique nature of the building and the renovations completed by Winter Properties created a great deal of interest in this asset,” says Chudnoff. “We saw so much demand from tenants looking for anything from a single floor to the entire building that we could have leased 57 E. 11th St. several times over.”
Winter Properties, a related business of Standard Industries, is a vertically integrated real estate investment management and development firm. It launched the redevelopment of 57 E. 11th St. in 2017, tapping JLL to serve as the building's exclusive leasing agent.
Constructed in 1903, the 11-story property is located between University Place and Broadway in the heart of Greenwich Village. Morris Adjmi Architects completed major renovations that include a new lobby and storefront, windows, restrooms, building infrastructure, new elevators and a rooftop terrace.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
