Spaces Lands Hudson Yards' First Co-Working Lease With Brookfield
Brookfield has agreed to lease seven floors of its boutique office building, The Lofts, within its Manhattan West mega-development to Amsterdam-based Regus' Spaces concept. The 103K SF location will be Spaces' largest in the country, and Spaces Vice President of Network Development, Americas Michael Berretta said in a statement it will be the company's flagship location.
With the Hudson Yards district's market-leading rents and big-name tenants such as Amazon, JP Morgan Chase and the NHL in Manhattan West alone, the area's reputation is not quite in step with the startup and small-scale attitude many co-working providers seek to curate. But the 13-story, 202K SF The Lofts building is being designed specifically as a contrast to the neighboring glass skyscrapers.
Related does offer a form of co-working space as an amenity for residents at its 15 Hudson Yards apartment building called the Atelier, but Spaces will be the first to make co-working available to all potential users.
Spaces currently has three locations in New York City: at the Helmsley Building and 1740 Broadway in Manhattan and the Falchi Building in Long Island City. It was represented by JLL in its lease at The Lofts, and Brookfield was represented by Cushman & Wakefield.
In addition to desks and offices, the Spaces at Manhattan West will host business meetings and events, including Tedx Talks, an offshoot of the TED Talks brand that gives experts across multiple fields platforms to share their knowledge in digestible presentations. Spaces will occupy floors seven through 13 of the building, and will integrate the 2K SF roof deck into its programming. It will also have its own private, street-level entrance and lobby.