WeWork, which warned in an SEC filing this week that it may be on the verge if going bankrupt, will create a gigantic crater in NYC's struggling office market if it goes under.
The coworking company, once one of the largest private-sector tenants in New York and London, still occupies nearly 7M SF of offices in Manhattan, according to first-quarter data from Savills.
The company's US national office footprint is more than twice as large, about 16.8M SF, according to CoStar data. Square footage alone doesn't measure the exposure to a WeWork collapse:
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