Cowork.rs, an emerging rival of WeWork for start ups to rent office space, has inked a deal for 33,000 square feet at 55 Broadway in the Financial District.
The coworking company will take up the mezzanine level of the building, part of the third floor and the entire fourth floor, as Crain’s New York Business first reported. The lease is for 13 years at the commercial of building between Rector and Morris Streets.
Asking rents in the building run $50 to $60 per square foot, according to a news release from the landlord, Harbor Group International.
Brad Gerla and Jonathan Cope of CBRE represented the landlord, while Sean Black of JLL represented the tenant.
“There is a massive change happening downtown as far as start-ups and media groups that want to call FiDi their home,” said Shlomo Silber, the chief executive officer of Cowork.rs, in prepared remarks. “We are really excited to be a part of this and to be able to help these companies grow.”
Harbor Group International has recruited or retained several tenants since buying the 32-story building for $157 million last year. Earlier this week, Commercial Observer reported Hair Club for Men had inked a 10-year, 8,487-square-foot deal for part of the 30th floor. The Bank of Communications, one of China’s largest banks, renewed its 22,000-square-foot lease in November for the building’s top two floors.
“The addition of Cowork.rs to 55 Broadway perfectly complements our repositioning of the building and will provide a unique amenity to our tenants,” Harbor Group InternationaL Managing Director Jim Vallos said in prepared remarks. “This new generation of workplace amenities offers flexible co-working and conferencing space that is particularly valuable.”
Cowork.rs, with a similar to the fast-growing WeWork, offers round-the-clock access to office space and equipment, according to its website. It currently has space at 115 East 23rd Street between Lexington Avenue and Park Avenue South in the Flatiron District, and in March inked a deal for 42,000 square feet at 92 Third Street in Gowanus, which is slated to open in July.
It’s not the first big cowork space in FiDi, however: WeWork currently has a 120,537-square-foot lease at 222 Broadway in Fulton Center.