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<\/a>Despite its established status, New York City\u2019s coworking market<\/a> is undergoing a transformation alongside changes in the traditional office sector, according to a recent report by Hubble<\/a>. Though coworking inventory shrank in the third quarter compared to the one before it, the sector is growing its share<\/a> of total office inventory, as traditional properties are being converted or decommissioned at a faster rate.<\/p>\n\n\n\n During the third quarter of 2026, the Big Apple\u2019s total coworking inventory<\/a> dropped to 14.9 million square feet after losing 288,000 square feet of space. The total now stands slightly below the level recorded at the start of the year.<\/p>\n\n\n\n Manhattan\u2019s coworking inventory continued the contraction streak that began after the first quarter of 2026. From July through September, the borough lost approximately 317,000 square feet of coworking and shared office space. While Times Square-Hell\u2019s Kitchen, the City Hall area, the Plaza District and World Trade Center gained one to two coworking locations each, Gramercy Park, Murray Hill and Soho shed one location each.<\/p>\n\n\n\n After Brooklyn added more than 120,000 square feet of inventory through June, the borough registered a roughly 4,000-square-foot contraction during the third quarter. Despite the slight decline, Brooklyn\u2019s coworking inventory<\/a> remains above its level at the start of 2026.<\/p>\n\n\n\n