• Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Maximize Flexible Space Revenue
Home News Business

WeWork And Adam Neumann Come Together To Deny Allegations From Former Landlord

Aayat AlibyAayat Ali
January 21, 2022
in Business
Reading Time: 2 mins read
A A
WeWork And Adam Neumann Come Together To Deny Allegations From Former Landlord

More stories for you

WeWork co-founder Adam Neumann bids over $500M to take over the troubled company amid bankruptcy.

WeWork’s Controversial Ex-CEO Adam Neumann Seeks Redemption with $500M+ Buyback Offer

1 year ago
WeWork Is Adjusting To The New Normal, But Is It Enough For Members?

WeWork Is Adjusting To The New Normal, But Is It Enough For Members?

3 years ago
What Does WeWork’s Common Desk Acquisition Mean For Its Future?

What Does WeWork’s Common Desk Acquisition Mean For Its Future?

3 years ago
WeWork Has Finally Gone Public

Second Time’s The Charm – WeWork Has Finally Gone Public

4 years ago

WeWork and Adam Neumann are teaming up once again, this time to discredit an August lawsuit brought by former landlord Sapir Organization.  

The landlord has stated that WeWork abandoned its lease at a Midtown building in March of last year that was intended to run through 2028 and now owes around $17 million in damages. Neumann is named in the lawsuit as the person who guaranteed WeWork’s lease at the office building.  

Advertisements
Fiverr - Get It Done By Tomorrow

According to the lawsuit, an entity related to the Sapir Organization said it became aware of WeWork surrendering the lease after reading a report in The Real Deal early last year. The entity also stated WeWork returned to the premises after its “surrender date.” 

In October of last year, WeWork denied these allegations and stated that the landlord and its CEO Alex Sapir had a “long history of underhanded conduct and mismanagement of their real estate holdings.” 

Advertisements
Maximize Flexible Space Revenue

WeWork also claimed that Sapir illegally drew down a $767,795 letter of credit from Goldman Sachs before receiving proper authorization.  

In the latest development, Neumann filed claims against Sapir using WeWork’s attorney, stating that he did indeed promise the lease, but that WeWork had vacated the space properly which voided this guarantee. 

After Neumann stepped down from the company in 2019, WeWork cut back on its real estate footprint to mitigate the financial loss it has experienced. While making some improvements, the coworking firm is still attempting to remedy its reputation. 

Advertisements
Subscribe to the Future of Work Newsletter
Tags: wework
Share5Tweet3Share1
Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

Other Stories Recommended For You

WeWork co-founder Adam Neumann bids over $500M to take over the troubled company amid bankruptcy.
Coworking

WeWork’s Controversial Ex-CEO Adam Neumann Seeks Redemption with $500M+ Buyback Offer

byDominic Catacora
1 year ago

Adam Neumann, the ousted co-founder and former CEO of WeWork, has submitted a bid of over $500 million to regain...

Read more
WeWork Is Adjusting To The New Normal, But Is It Enough For Members?

WeWork Is Adjusting To The New Normal, But Is It Enough For Members?

3 years ago
What Does WeWork’s Common Desk Acquisition Mean For Its Future?

What Does WeWork’s Common Desk Acquisition Mean For Its Future?

3 years ago
WeWork Has Finally Gone Public

Second Time’s The Charm – WeWork Has Finally Gone Public

4 years ago
Advertisements
Envoy - Workplace ROI
Advertisements
Disaster Avoidance Experts

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00