Industrious Eyes World’s Largest Coworking Space
The Midtown Manhattan location is scheduled to come online this year.
Image courtesy of Yardi Matrix
Industrious will expand its footprint at Kato International’s Tower 49 in Midtown Manhattan to a total of 291,600 square feet—achieving the largest single flex office space in the world.
The coworking giant currently occupies 240,000 square feet at the 600,000-square-foot office tower, after taking over WeWork’s headquarters space in 2024.
Collaborators on the project include Bonetti Kozerski Architecture, MdeAS Architects, Mucca and Friend of Chef. The redevelopment is scheduled for completion by the end of the year.
Industrious will occupy 18 stories at the property, instead of 16. The expansion is part of a larger, owner-led initiative at Tower 49, which aims to redevelop two of its floors—namely the third and the 24th—by introducing new amenities.
The third floor will feature a full-service meeting and conference center for up to 120 individuals, flexible meeting rooms and a café. Similarly, the property’s 24th floor sky lobby will be modernized to include a social lounge.
Completed in 1984 and designed by architecture firm Skidmore, Owings & Merrill, Tower 49 rises 45 stories at 12 E. 49th St., between Madison and Fifth Avenues. The tenant roster includes Brown Advisory, Verum Capital, Cobepa and Kepler Capital Markets.
The office tower has been under Kato International’s ownership since 1986, when the company acquired it from Solstead Associates for $300 million, or $497 per square foot, according to Yardi Matrix information. Since then, the firm implemented cosmetic renovations in 2006 and 2009.
Growing industriously across NYC
Since CBRE Group acquired Industrious in 2025, the coworking company continued its expansion across metro New York City. Last month, the firm leased 23,000 square feet in NoMad, at Heng Sang Realty’s 386 Park Ave. S., marking the flex office provider’s 35th location in the borough.
Recent coworking trends point out that the sector is shifting from an experimental approach to a structured one, especially since hybrid work has matured into a legitimate alternative for both employers and employees. While enterprises rebalance their footprints, flex office operators adjust by adding locations in secondary and tertiary markets.
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