Office

The flexible workspace provider has leased five floors in United Group's Midtown office building near Herald Square.

The new buildings will add 400,000 square feet of laboratory space at the 116-acre campus.

With 65.7-percent occupancy, the property offers investors the opportunity to add value through strategic lease-up.

WeWork's purchase of the Lord & Taylor Fifth Avenue property affirms the value of prime Manhattan real estate.

Since 2011, Lower Manhattan has seen 14.6 million square feet in relocations from Midtown and Midtown South, while only 4.6 million square feet of Lower Manhattan firms packed their bags for those two respective markets.

TF Cornerstone and MSD Partners are redeveloping the hotel that's next to Grand Central Terminal into a 2 million square-foot, mixed-use asset.

The governor said that a congestion pricing plan is necessary in order to prevent a nearly 30% MTA fare hike, as well as the further deterioration of the transit system in coming years.

The deal adds to Brookfield's portfolio in Boston that includes 13 office and life science properties totaling more than 3 million square feet and six multifamily properties.