Taylor Building | Wework Buys Lord And

After some financing delays, the sale officially closed in early 2019. Symbolism of the Move

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

Renowned architect Bjarke Ingels was hired to oversee a massive renovation that aimed to preserve the building’s Italian Renaissance-style facade while modernizing the interior. The Downfall and Resale After some financing delays, the sale officially closed

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. The Downfall and Resale The purchase was widely

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

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