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 location.
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 location.