Coworking Provider, The Yard, Taking Entire Gowanus Building
Liam La Guerre May 25, 2016, 5:43 p.m.
The Yard, which bills itself as a “high-end” coworking space, is continuing its expansion with a new location in the Gowanus section of Brooklyn, the company announced yesterday.
It has signed a 24,800-square-foot lease for the entire three-story building at 157 13th Street between Third and Fourth Avenues, which is set to open in November.
The office space will be outfitted with exposed brick walls and wood ceilings, and will feature ergonomic chairs, state-of-the art conference rooms, keycard access and curated art installations, The Yard’s spokeswoman told Commercial Observer via email. The asking rent in the 15-year deal was $40 per square foot, she relayed from Richard Beyda, a co-founder of The Yard.
“We’re seeing constant needs for authentic, beautiful and community-driven work spaces in growing neighborhoods nationwide,” Mr. Beyda said in prepared remarks. “Members tell us that they choose The Yard for its sophisticated business space, elegant environment and amenities, and we want to be able to offer these options to thriving communities outside of the Manhattan epicenter.”
The Yard’s Gowanus location will also have a 1,900-square-foot café and a rooftop deck for tenants.
“The Yard was always interested in the location because of the [industrial] character of the building,” Robert Klein of Kalmon Dolgin Affiliates, who represented both The Yard and landlord Serajbit Singh, told CO. “They are going to have an entrance made from a [loading dock]. The windows are going to be all new. They are going to polish the floors and open up skylights.”
The Yard has six existing locations in New York City, including five in Manhattan. In January, the company signed a 34,000-square-foot deal at 116 Nassau Street between Beekman and Ann Street for a sixth Manhattan outpost, as Commercial Observer reported at the time. That location, which is in the Financial District, will open in a few months, the spokeswoman for The Yard said.
And its Gowanus location marks The Yards’ second Brooklyn location. It has a space in Williamsburg at 33 Nassau Avenue between Dobbin and Guernsey Streets, which opened in 2011.