12 Questions to Ask When Leasing Office Space
Whether you’re navigating the office space market for the first time or you’ve moved your business before, it’s crucial that you ask the right questions throughout the leasing process to... Read More
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January 13, 2020 | by
Reviewed by real estate expert Jonathan Wasserstrum
The rise of coworking spaces in NYC in recent years is a response to the nature of the working world, which has changed a lot in the last several years. The rise of the gig economy, an increase in companies allowing employees to work remotely, and the proliferation of start-ups has created a need for workspace options in New York and elsewhere. While some people have made the New York local coffee shop their home base, most find that option extremely limiting, given everything from unpredictable seating options, subpar wi-fi, and the lack of office accessories. Home, too, might be an option, except that many people find that environment too solitary and would prefer a more formal office space.
To meet the demand for alternative workplaces in New York City, coworking spaces have emerged. At first glance, these flexible spaces in New York might seem like a regular office. There is typically a reception area, plenty of desks, a kitchen and break room, copy machines and printers, high-speed wireless internet, private offices, and other amenities you would hope to find in a workplace.
The difference is that the people using the coworking space often include many self-employed individuals, small collaborative teams, entrepreneurs and startups. These people are all working alongside one another in a shared office environment.
One of the earliest and most widespread coworking providers, WeWork, has hundreds of locations around the globe.
In Manhattan alone WeWork has multiple office locations in SoHo, Midtown and the Upper East Side, among others. However, there are many other coworking options out there to be considered that may offer prices, locations, or amenities that better fit your particular needs.
Some of the most notable include:
Regus – With shared office spaces in New York and locations around the world, Regus is one of the largest coworking providers. Users can choose between reserving a permanent desk space, or just selecting from available desks with a “hot-desking” option. They also offer virtual office space, meeting rooms and business lounges to serve the needs of their clients globally.
Industrious – Priding itself on offering beautifully-designed spaces that are move-in ready with access to shared amenities. Industrious has locations in dozens of U.S. cities and offers solutions for businesses of all sizes from choosing a desk in a private office to a seat in their New York coworking space.
Techspace – Start-ups can get move-in ready, tech-enabled space that either includes coworking desks or private offices suitable for a small team.
Venture X – Several different flexible, month-to-month memberships are offered, including shared desks, dedicated desks, and private options. Available amenities range from ergonomic chairs and filing cabinets to conference room and common area access.
Serendipity Labs – Located in 29 suburban and urban markets, Serendipity Labs offers both part and full-time membership options for their workspaces.
Alley – Prices start at $315 a month and include access to a variety of features like a nursing room, unlimited coffee and tea, weekly catered lunch, and cleaning services. There are even weekend-only memberships and $25 “day passes”.
The Wing – Focusing on a female clientele, The Wing’s coworking offices provide an array of unique amenities, such as quiet rooms, beauty rooms, fitness rooms, showers, roof decks, kids’ spaces, and more, depending on the location.
Coworking space in New York City has aimed to provide options for all business scenarios. As more entrepreneurs and growing businesses have required flexible lease options, coworking companies have been the solution in many cases. New York coworking companies are affordable partners for startups, offering budget workspaces, with perks and in locations that are attractive for the companies they serve.
Coworking companies offer a lot of flexibility to their members. As a member you have access to a desk at will, and as a team grows coworking makes expansion simple, you just change up your membership plan.
A major perk of New York coworking is scaling your business. Networking with people around you can inspire new ideas, or acquire new business for your company. The people you share an office with may even end up becoming your clients.
With a population of nearly nine million and the hub of many industries, coworking spaces in New York are more popular than anywhere in the United States— which is unsurprising as traditional office spaces in NYC are plentiful. As such, there are a number of coworking space providers that are exclusive to NYC or that have most of their locations in the New York City metro area including Brooklyn, Queens and Manhattan.
Among the notable NYC coworking spaces are:
Coworking Compass – When searching for space on their website, you can filter for preferred amenities like conference rooms, snacks, bike storage, standing desks, phone booths, and more.
The Farm – If you’re looking for New York coworking space in SoHo or Murray Hill that is affordable and pet-friendly, The Farm may be the best choice for you.
Bond Collective – In addition to prime spots in the Financial District and Flatiron, Bond Collective offers boutique working spaces in the Brooklyn neighborhoods of Bushwick, Greenpoint, and Gowanus.
The Yard – With New York office spaces in locations from Lincoln Square down to the Lower East Side, The Yard offers coworking memberships for just $275/month.
KettleSpace – A power outlet at every workspace and unlimited snacks are among the perks to be found for coworkers who utilize any one of KettleSpace’s several locations in Manhattan and Brooklyn.
Green Desk – Boasting over 5,000 desks in great locations in Brooklyn and Long Island City, Green Desk is an affordable, environmentally-friendly New York coworking company that uses renewable energy sources, recycled building materials, energy efficient fixtures, and green cleaning supplies.
If you already use WeWork but find that one of these other space options is more suited to you or your company (or you simply want to move to a more traditional office space), you may need to learn how to cancel WeWork membership. The best way to do it is by going in person to the Community Bar at your WeWork location during business hours. You can find more information on how to cancel WeWork membership here.
Truebill, a website that specializes in helping people cancel paid subscriptions, also suggests additional ways that you can cancel your WeWork membership via phone and email.
Coworking is not for everyone. Some individuals may simply prefer the solace of working from home. For companies, some may try a New York coworking space and discover that it doesn’t really work for their team. There are many reasons that coworking may not be right for your business.
Whether it’s distractions that come from sharing a space with other companies and individuals, a less-than-ideal location, or a lack of preferred amenities, you may want to end your coworking arrangement and enlist a New York broker to help you locate your own office space. What is important is that you are ultimately able to choose the option that best meets your specific needs.
While New York coworking has many pros, it also has its cons too. Coworking rates are often less than traditional office space but are still more costly than working in a coffee shop or from home. The shared spaces of coworking buildings can get crowded and be distracting. Not to mention that a lack of your business’ branding can be detrimental for client meetings.
Often companies prefer traditional New York office space options as the private headquarters of their business. Some traditional office spaces are even designed with open layouts similar to that of coworking but they allow optionality for private spaces and conference rooms. Plus the company has control over technology options and other amenities.
If you are still unsure about whether a coworking space in NYC is right for your company get in touch with us today. SquareFoot brokers in New York can help to place you in a coworking or traditional office space to suit your business needs.
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