Wework Buys Lord And Taylor Building < HOT - 2026 >

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

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

After some financing delays, the sale officially closed in early 2019. Symbolism of the Move The deal quickly became a "white elephant" for

Lord & Taylor, the oldest department store chain in the U.S., was struggling with the rise of e-commerce. wework buys lord and taylor building

At the time, WeWork was one of the world's highest-valued startups (peaking at $47 billion) and was aggressively expanding its physical footprint.