By Corina Stef
Manhattan continues to reign over the coworking sector with 7.7 million square feet of flexible space in its inventory. The borough houses well-established operators such as WeWork or Knotel, but newer companies are approaching the coworking culture differently.
VillageOne, a company founded in 2018 that strives to provide freelancers from the fashion, design and photography sectors the creative space they need, opened its first location and leased 4,000 square feet on Broadway in a GPF Real Estate-owned office building. The asking rent was $65 per square foot.
Built in 1897, the 12-story property is located at 594 Broadway and comprises 210,900 square feet of office space with a retail component. It features high ceilings, wood floors and a renovated lobby and elevators. VillageOne offers a full use of creative working spaces, private meeting rooms, professional networking events, complementary artisanal refreshments and 24-hour building access. Additionally, the new location features a fully equipped professional photo studio, a private bathroom and a make-up room.
Other notable tenants at 594 Broadway include Breather, The Architectural League of New York, Creative Media Marketing and Genesis Cos. Situated in the borough’s SoHo neighborhood, the building provides easy access to multiple bus, train and subway stations.
The Kaufman Org.’s Elliot Warren represented the tenant in the transaction, while Donna Vogel represented the landlord in-house.
“Creative freelancers like flexibility in their workspaces, however, they do not find value in the ubiquity, frequent distractions and general one-size-fits-all mindset that comes with traditional coworking spaces,” VillageOne Founder & CEO Vivienne Yang said in a prepared statement.
Image courtesy of Yardi Matrix