WeWork dethrones JPMorgan Chase and becomes Manhattan’s largest private office tenant

The eight-year-old company continues to dominate Manhattan’s office market

wework New York office map. (Source: wework)

(NEW YORK, NY) — We asked, will WeWork become Manhattan’s largest private office tenant?

WeWork answered, “yes.”

With 5.3 million square feet of office space, the co-working company is officially Manhattan’s largest private office tenant.

The company’s new 258,344-square-foot location at 21 Penn Plaza has allowed them to steal the title from JPMorgan Chase.

The company’s first location opened at 154 Grand Street back in 2010 and now has a total of 60 locations in New York City, 50 of which are in Manhattan.

In late August, a Cushman & Wakefield report estimated that the company was just 74,000 square feet away from dethroning JPMorgan Chase. The milestone was almost reached through a 220,000-square-foot lease at One World Trade Center. Though the negotiation fell through, the company’s rapid growth rate proved effective when they leased a larger office space less than a month later.

This is not the first time the company has achieved such a title. Earlier this year, WeWork became the largest private office tenant in London. The milestone came four years after opening their first location there.

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