Shared office space is expanding to different parts of the city. Next up: UWS. Read the article on The Real Deal here.
Shared office space provider in talks to take 28,000 sf at Brodsky’s 157 Columbus Ave.February 26, 2014 01:14PM By Hiten Samtani
From left: The Yard’s space at 33 Nassau Avenue in Williamsburg-Greenpoint and 157 Columbus AvenueShared office space provider the Yard is in advanced discussions to pick up its third location in Manhattan, this time on the Upper West Side, The Real Deal has learned. The Yard is looking to lease the entire fourth and fifth floors of the Brodsky Organization’s 157 Columbus Avenue, more than 28,500 square feet. The impending deal comes just weeks after the Yard agreed to take 18,800 square feet at 234 Fifth Avenue. The Yard also has locations at 33 Nassau Avenue in the Williamsburg-Greenpoint area and at 85 Delancey Street in the Lower East Side. At 157 Columbus, the shared-office space specialist will likely pay rents starting in the low-$40s per square foot, according to CompStak data. That’s in line with other recent deals at the building, including one with Citi Habitats, which recently took most of the second floor at the 32-story building. Cushman & Wakefield represents the Brodsky Organization, but a spokesperson for the brokerage declined to comment. Shared office space providers are now among the city’s fastest-growing tenants, with thefive largest providers holding more than 2.8 million square feet, as TRD reported.