Wework Buys Lord And Taylor Building May 2026

After some financing delays, the sale officially closed in early 2019. Symbolism of the Move

The deal quickly became a "white elephant" for WeWork following its failed IPO attempt in 2019 and the ousting of co-founder Adam Neumann. wework buys lord and taylor building

Renowned architect Bjarke Ingels was hired to oversee a massive renovation that aimed to preserve the building’s Italian Renaissance-style facade while modernizing the interior. The Downfall and Resale After some financing delays, the sale officially closed

At the time, WeWork was one of the world's highest-valued startups (peaking at $47 billion) and was aggressively expanding its physical footprint. The Downfall and Resale At the time, WeWork

WeWork intended to use the 676,000-square-foot space as its global headquarters and for additional shared office space.

Lord & Taylor, the oldest department store chain in the U.S., was struggling with the rise of e-commerce.