Approximately one year after the Wing, a popular women-only coworking and social space, was closed by its parent company IWG, the building that housed its headquarters has been sold for $18.95 million. Located at 137 Second Ave. in the East Village, the Wing had fully leased the three-story structure in 2019. Cofinance, the previous owner, sold the property to a mystery buyer known as 137 Second Avenue Holdings, LLC. The building was listed for $22.5 million in March. According to city finance records, the seller originally purchased the building for $18 million in 2019 before leasing it to the Wing. Cofinance was represented by Cushman & Wakefield in the transaction, while Denham Wolf represented the confidential buyer. The future use of the property remains unknown.
The building itself has a rich history and is considered a remarkable asset. It was built in 1884 and has served various purposes in the past, including being a medical center. Designed by architect William Schickel in a modified neo-Italian Renaissance style, the building was designated as a city landmark in 1976. It features a facade of Philadelphia pressed brick adorned with terra cotta elements. Numerous busts decorate the exterior, including one of Hippocrates. Inside, the Wing offered a stylish and chic environment, with trendy millennial pink furnishings and color-coordinated books on shelves.
The Wing experienced significant success during its peak, with multiple locations and a waitlist of eager members. However, the company faced financial difficulties and allegations of mistreatment towards employees of color, which led to its near bankruptcy in 2020. Despite its commitment to social consciousness, the Wing faced criticism for layoffs and inadequate employee support. Co-founder Audrey Gelman eventually resigned, while Lauren Kassan remained as CEO.
Overall, the sale of the Wing’s former headquarters represents a significant transaction, showcasing the value of the building and its historical significance. The future of the property under new ownership remains uncertain.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
