Rudin pulls 110 Wall off the market after unusual sales pitch mentions possible WeWork “default”

In the sales pitch for 110 Wall Street, brokers for Rudin Management gave voice to landlords’ worst-case scenario involving WeWork: default. An offering memo circulated in recent months by brokerage Eastdil Secured cited the possibility that the co-working giant — Rudin’s sole tenant at the 27-story Financial District office building — would live up to critics’ expectations and fail to pay its rent if the economy turns. “Given the single-tenant nature of 110 Wall Street, […]

source https://therealdeal.com/2019/07/22/rudin-pulls-110-wall-off-the-market-after-unusual-sales-pitch-mentions-possible-wework-default/