Serendipity Labs to Open 41KSF Coworking Office in Durst Building
Coworking operator Serendipity Labs has reached a 10-year agreement with the Durst Organization to open a 41,000-square-foot Manhattan flexible office space in the real estate company’s building at 205 E. 42nd St in New York City. The coworking space will span the top three floors (19 through 21) of the Art Deco building, which was initially acquired by Joseph Durst in 1944.
The new, flexible office will accommodate up to 100 people and offer access to a rooftop terrace and private event space, while also containing two lounge cafés. Serendipity’s expansion into the property comes after the closure of a WeWork location in the same building amid its ongoing cost-cutting initiatives.
Offering unparalleled logistical opportunities due to its location just one block from Grand Central Terminal, the 532,000-square-foot property is a testament to Manhattan’s rich skyscraper history and its accommodating attitude toward innovative trends, such as coworking. In an area full of corporate headquarters — as well as high-end restaurants, hotels and shops — 205 E. 42nd St. will also now benefit from a Serendipity-run coworking office to present flexible options for tenants of the property, as well as digital nomads.
In addition to the new lease, Serendipity and Durst have also agreed to grant all of Durst’s tenants (across the company’s 13 million square feet of office space) full access to the coworking operator’s network of suburban-oriented coworking spaces in the NYC area. Serendipity Labs also operates six other locations in the tri-state area, with other flex spaces in areas such as the Financial District, Ridgewood, Stamford and Westport. The company has 35 locations worldwide.
Serendipity Labs’ network of flex offices is meant to serve both Manhattanites, as well as suburban commuters.
“Serendipity Labs – Grand Central will serve as a flexible alternative to long-term office leasing for companies that have decided to downsize their fixed real estate commitments, and for those that need to support new, hybrid workplace policies offering employees better access to transportation to shorten commutes,” said Serendipity CEO, John Arenas.
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