Wework Buys Lord And Taylor Building May 2026

WeWork intended to use the 676,000-square-foot space as its global headquarters and for additional shared office space.

Hudson’s Bay Company (HBC), the parent company of Lord & Taylor, announced it would sell the iconic Fifth Avenue building to WeWork for $850 million . wework buys lord and taylor building

The purchase was widely viewed as a symbolic "passing of the torch" from traditional brick-and-mortar retail to the modern, tech-driven coworking economy. WeWork intended to use the 676,000-square-foot space as

Lord & Taylor, the oldest department store chain in the U.S., was struggling with the rise of e-commerce. WeWork intended to use the 676

The deal quickly became a "white elephant" for WeWork following its failed IPO attempt in 2019 and the ousting of co-founder Adam Neumann.