April 22, 2017

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That's All Folks!

April 22, 2017


Breaking news from New York is that IBM has agreed to take all of the desks managed by We Work at 88 University Place in Greenwich Village, as Looney Tunes Cartoons say "That's All Folks"!


It's reported that an investment group led by fashion designer Elie Tahari bought the 11 storey building in 2015 with the clear intention of giving up all the space to We Work to manage and it seems to have paid off.


The slim office building was first completed in 1906 and in a gateway city like NYC might have been considered redundant in the 21st Century if it were not for an owner like Tahari and an operator like We Work.


The published rates per person for private space start at $1,200 per month for private space for 2 people so it's not cheap. The deal with IBM is bound to have been sweeter than the published rates but still it speaks volumes that a tech giant can love ancient architecture and an owner/operator model can work well for an office building.

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