May 10, 2019
RXR Realty and WeWork are collaborating on a revenue-sharing initiative at RXR’s 75 Rockefeller Plaza. The announcement follows RXR’s recent announcement of a hospitality partnership with Airbnb at the Midtown office property.
The partnership will see WeWork and RXR share build-out costs of four floors encompassing nearly 90,000 square feet at 75 Rockefeller Plaza, with WeWork taking the lead on design and programming. The space, now under construction, will be occupied by a current WeWork enterprise member. RXR and WeWork will share in the revenue generated by the space.
“We pride ourselves on being a forward-thinking company that has built a reputation of taking iconic buildings and reimagining them for use in the 21st century,” said Scott Rechler, RXR’s chairman and CEO. “This partnership aligns directly with our overall development strategy, and we look forward to working with the team at WeWork on new and exciting opportunities moving forward.”
For comments, questions or concerns, please contact Paul Bubny