Hey Monkeys,
I'm sure many of you follow WeWork IPO. I've always had a question on the possible leasing concession terms they can get being a VC sweetheart and the biggest tenant in NYC. How long of free rent can they get, say in NYC?
As per S-1, they do NOT adjust for amortization of lease incentives but instead to use it to offset capital investment in new locations. As they expand rapidly, there seems to be a timing mismatch between revenue and lease costs (especially when concessions are granted to Wework in the form of free rent).
Thoughts?
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