WeWork leases in Soho, Flatiron most at risk: report

WeWork’s recent struggles could put many of its leases in jeopardy. But according to a new report, its Soho and Flatiron deals are the most vulnerable if coworking rates drop. The company’s lease obligations are only 2 percent below market rate in Soho and 4 percent below in Flatiron, the report from Ackman Ziff says. The firm’s average rent in Manhattan is $58.91 per square foot, 20 percent below the average rate of $74.15. Its

source https://therealdeal.com/2019/10/08/wework-leases-in-soho-flatiron-most-at-risk-report/