Wework Buys Lord And Taylor Building -

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

Lord & Taylor, the oldest department store chain in the U.S., was struggling with the rise of e-commerce. wework buys lord and taylor building

At the time, WeWork was one of the world's highest-valued startups (peaking at $47 billion) and was aggressively expanding its physical footprint. After some financing delays, the sale officially closed

Hudson’s Bay Company (HBC), the parent company of Lord & Taylor, announced it would sell the iconic Fifth Avenue building to WeWork for $850 million . After some financing delays

The acquisition of the historic by WeWork (as part of a joint venture with Rhône Capital ) was a landmark real estate deal that signaled a major shift in Manhattan’s commercial landscape. The Deal Overview