The Wing’s Audrey Gelman and 137 Second Avenue (Getty, Google Maps)
Months after The Wing was clipped by “global economic challenges,” its former headquarters in the East Village has hit the market.
The dormant co-working operator’s office at 137 Second Avenue was listed for sale for $22.5 million, according to a Cushman & Wakefield listing first reported by Curbed. The Cofinance Group purchased the property from former owners, including Joel Schreiber, for $18 million in June 2019.
Prior to that sale, the women-focused firm leased the entire property in early 2019 for a reported high-$60s per square foot. The property is three stories tall and spans 15,000 square feet.
The Wing shot to popularity after it was founded in 2016 with more than $100 million invested by Sequoia Capital, WeWork and Airbnb. The company, which became known for its Instagram-worthy interior decoration, peaked at 11 locations across two countries.
But controversy and the pandemic-era closures dogged the company, which nearly went bankrupt in 2020. Co-founder Audrey Gelman walked away from the firm at the time as it faced allegations of mistreating people of color and a gender discrimination lawsuit.
The company went out of business in August, closing offices in Los Angeles, New York, San Francisco and Chicago.
A buyer could recreate the picture-perfect image The Wing tried to produce in its offices — the furniture is available for sale too, according to Curbed.
The property was built in 1884 and once served as the Stuyvesant Polyclinic and the Cabrini Medical Center. It includes a finished basement, private outdoor space and 50 feet of frontage on Second Avenue. It also has flexible zoning, meaning it can be used for a variety of purposes, including residential.
A Cushman & Wakefield team including Hunter Moss and Michael DeCheser have the listing.
— Holden Walter-Warner
Here’s what the $10M-$20M NYC investment sales market looked like last week
The Wing to lease entire Second Avenue building
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Months after The Wing was clipped by “global economic challenges,” its former headquarters in the East Village has hit the market. The dormant co-working operator’s office at 137 Second Avenue was listed for sale for $22.5 million, according to a Cushman & Wakefield listing first reported by Curbed. The Cofinance Group purchased the property from
The post The Wing’s former HQ asks $23M appeared first on The Real Deal. Uncategorized, Co-working, East Village, Office Market, The Wing The Real Deal
Lead by real estate veteran Robert Khodadadian, Skyline Properties has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.