Relevant:
- WeWork documents reveal it owes $18 billion in rent and is burning through cash as it seeks more funding
- "Too Big to Fail" author says WeWork may now be "too big to fail"
- WeWork rival Knotel is now valued at $500M
- WeWork set to sack 2,000 staff as anger towards founder Adam Neumann grows
- Virtually No One Will Lease to WeWork. That's a Drag on NYC's Office Market.
2020-07-24 — therealdeal.com
The firm has some 1.9 million square feet of space in New York that's either available or will become so in the coming months, according to Business Insider, which obtained leaked marketing materials. That's more than 20 percent of WeWork's portfolio in the city, and far exceeds the availability rate in Manhattan of 12.1 percent in June.
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The news comes about a week after WeWork chairman Marcelo Claure said the company plans to turn a profit by 2021.
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