Construction Beat

Exterior to Be Unveiled at WeWork’s Soho Digs

Old rendering of 175 Varick Street from the exterior architect on the project, Spector Group. Architect Marc Spector said the building is now more industrial and tech friendly.

The scaffolding will soon come down at WeWork‘s offices at 175 Varick Street, Marc Spector, a principal at Spector Group, told Commercial Observer, and the façade work will be completed by the end of March.

Spector Group was charged with creating an entirely new base to the exterior façade at 175 Varick Street for the national collaborative workspace provider. The upgrades include a dark grey grid façade and large portals of glass with black window mullions. Read More

Lease Beat

WeWork Opens Midtown South Location

Courtesy of Meringoff Properties

WeWork continues its expansion with a new lease in Midtown South. 

The office space provider for tech and new media companies will open a 63,300-square-foot office spanning the eighth, ninth, and tenth floors of Meringoff Properties-owned 401 Park Avenue South. The office marks the first in Midtown South, adding to its portfolio of places throughout the downtown area.  Read More

Lease Beat

WeWork Expands Downtown Footprint

A WeWork office interior

Just months after taking over 120,000 square feet Downtown at 222 Broadway, WeWork is reportedly taking another 86,000 square feet down the street in a 20-year lease at 25 Broadway.

After a one-year period of free rent, the collaborative work space provider will begin paying in the low-$30s per square foot for the 9th and Read More

Lease Beat

Planet Fitness Inks Two Gyms in Effort of New York Expansion

Courtesy of Planet Fitness

Planet Fitness, the New Hampshire-based fitness center that operates approximately 30 locations in the tristate area, will expand its presence below 95th Street with a 29,500-square-foot space at 423 West 55th Street and the signing of a 28,576-square-foot space at 25 Broadway.

The gym on 55th Street will have a 24,500-square-foot ground floor base and a 5,000-square-foot mezzanine. The slightly smaller lease will consist of a 832-square-foot entrance and two lower levels of about 14,000 square feet each.  Read More

Manhattan Market Report

Education Sector’s Manhattan Office Space Surges With Monster Deals and Expansions

MPj04394090000[1]

Though it still makes up just two percent of the Manhattan office market’s total inventory, a number of significant deals have caused a surge in the education sector’s Manhattan footprint.

A report from CBRE attributes the 47 percent jump in office space leased by the sector – between 2005 and November 2012 – to a growing residential population, increases in enrollment at universities, campus expansions, greater availability and lower asking rents in sections of Midtown South and Downtown. Read More