Friday, March 13, 2020

Amazon buying Lord & Taylor building for $1.1B

The Real Deal
Amazon is buying the Lord & Taylor building from WeWork for $1.15 billion.

The bulk of the purchase price comes in the form of a $750 million construction loan WeWork took out to renovate the massive property, which Amazon will pay down, according to the New York Post. The rest is approximately $350 million in equity the e-commerce giant will shell out for the building at 424 5th Avenue.. . . more