Amazon is shelling out $1.15 billion in cash to acquire the former Lord & Taylor flagship in Midtown Manhattan, The Post has learned.
The Fifth Avenue landmark, which spans 11 stories and 660,000 square feet, will serve as Amazon’s New York City headquarters, housing several thousand employees in the coming years.
— The New York Post
According to The Post, the building had been initially been leased by WeWork to become the company's’s own headquarters, but after a series of scandals last fall, the plans fell through. Amazon will pay of $750 million of the remaining construction loan WeWork had obtained to renovate the space and cough up another $350 million to cover the equity of the building's current owners, The Post reports.
From a little over one year ago, WeCompany confirms its purchase of Manhattan's Lord and Taylor building
1 Comment
It was really an amazing purchase. It is a very good use of the building for Amazon to buy it.
I thought other people would be interested in seeing what the building looks like now....so I made a video of the building as it now stands on Friday March 13, 2020.
https://www.youtube.com/watch?v=H_ch9-6z4F8
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