WeWork Is Backing Out Of A Big Lease In Manhattan

Embattled coworking firm WeWork is pulling the pin on an anchor-tenant lease in New York City, potentially losing millions of dollars in the process. The company is pulling out of a deal to lease 115K SF at Columbia Property Trust’s 149 Madison Ave., Business Insider reports. The landlord had set aside almost $16M for a retrofit for WeWork, per the publication.