The Property Industry Is Falling Out of Love with WeWork

Post by donedeals » Thu, Dec 20, 2018, 4:02 AM UTC

pl0x wrote: post #64

donedeals wrote: post #39

Earlier quoted context omitted.

Wework Brooklyn #22 LLC signs the lease with the landlord and thus is responsible for the lease obligations. Wework LLC (proper) guarantees these lease payments for only 6- 12 months of the lease. After this time the only party responsible for the lease is the LLC that was formed. Landlords are likely agreeing to this only because Wework would never be able to sign a lease with any owner if they defaulted on a locati…

donedeals is another fake account from wework.

Post by kortilla » Thu, Dec 20, 2018, 4:04 AM UTC

tonysdg wrote: post #58

gowld wrote: post #52

Earlier quoted context omitted.

Must be nice to be an immortal corporation that can just spin off any debts you don't want to pay, while mere mortals with finite lifespans and education debt and medical debt and credit card debt cannot unless we die.

Fairly certain at least some of those debts can get passed on to your estate and/or children.

Post by neom » Thu, Dec 20, 2018, 4:08 AM UTC

donedeals wrote: post #39

pimlottc wrote: post #35

> WeWork forms a subsidiary to represent each lease deal, which means individual locations could fold without leaving the company itself with much risk. The parent company only guarantees the lease for about six to 12 months on a 15-year agreement, according to documents associated with WeWork’s inaugural bond offering. So, they sign a 15-year lease but are only on the hook for the first year? How does that work? Sou…

Wework Brooklyn #22 LLC signs the lease with the landlord and thus is responsible for the lease obligations. Wework LLC (proper) guarantees these lease payments for only 6- 12 months of the lease. After this time the only party responsible for the lease is the LLC that was formed. Landlords are likely agreeing to this only because Wework would never be able to sign a lease with any owner if they defaulted on a locati…

Post by kortilla » Thu, Dec 20, 2018, 4:10 AM UTC

chimeracoder wrote: post #55

0x8BADF00D wrote: post #45

Earlier quoted context omitted.

As the recession deepens, WeWork will surely eventually implode. I can see it now: vast swathes of empty commercial real estate. If you thought ghost malls were bad, wait until you see ghost WeWorks.

> As the recession deepens Deepens ? We're not in a recession, and we haven't been for nearly a decade. It's true that, by historical standards, we're arguably overdue for a recession, but the word "recession" is precisely defined, and the US unambiguously does not meet the criteria for being in one.

Post by [deleted] » Thu, Dec 20, 2018, 4:12 AM UTC

kortilla wrote: post #77

chimeracoder wrote: post #55

Earlier quoted context omitted.

> As the recession deepens Deepens ? We're not in a recession, and we haven't been for nearly a decade. It's true that, by historical standards, we're arguably overdue for a recession, but the word "recession" is precisely defined, and the US unambiguously does not meet the criteria for being in one.

>Deepens? We're not in a recession, and we haven't been for nearly a decade. There is a non-negligible portion of people who have bought into the political narrative that “stock market volatility = recession”. It’s political in the sense that “the economy can’t possibly be good with the current leadership”. Don’t waste your breath arguing with it because it’s politics, not facts or rationality.