Coworking space provider to open fifth outpost
September 30, 2014

Coworking office-space provider The Yard recently signed a 16-year lease for its fifth location in the city. The firm, which has incubated the likes of taxi app Uber, has been in expansion mode as of late and has taken 23,134 square feet at 883 Sixth Ave., between West 31st and West 32nd streets, where it plans to move early next year. The space takes up the entire second floor, where asking rents were in the high $50s per square foot.

The company, which rents out office spaces for small outfits with anywhere from one to 20 employees, typically prefers loft-style aesthetics in its offices, where brick walls and exposed ceilings are the norm. The space at 883 Sixth Ave. is a major departure in that regard. It is in a newly built luxury residential building that boasts 20-foot floor-to-ceiling windows—allowing The Yard to do something different.

"This is nothing like any of their other locations," said Evan Margolin of Savills Studley, who along with colleague Lance Leighton represented the tenant. "New construction with 20-foot ceilings is extremely rare."

The firm will have a branded entrance to the space on West 32nd Street. The new location is close to Pennsylvania Station and several parks. The Yards' other sites are in the Lower East Side, the Flatiron district and the Upper West Side, along with its original location in Williamsburg, Brooklyn...

Coworking space provider to open fifth outpost

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