Emerging co-working space provider Grind has inked a deal in Midtown South.
Grind will be taking 18,000 square feet at the 78,000-square-foot 1216 Broadway between West 29th and West 30th Streets, according to the company.
This will the fourth and the largest location for the company, according to Crain’s New York Business, which first reported news of the deal. It will be on the second and third floors of the four-story Chelsea structure, Crain’s reported.
Grind Chief Executive Officer David Beale said via a spokeswoman that the company would be taking the space for 12 years. The tenant did not have a broker, he added.
Asking rent in the deal was not available, Mr. Beale indicated. Instead, Grind collaborated on a deal in which it will pay a fixed rent and share some of the profits with landlord Raizada Shubindu Vaid. A representative for the landlord did not return a request for comment.
“As for the location, it was selected for the neighborhood—it is exactly where Grind members want to work,” Mr. Beale said in a statement. “It’s vibrant, diverse and has a great mix of work, health and play amenities. In addition, the building landlord was seeking the kind of collaboration described above, so altogether, it was a great fit.”
Grind’s other locations are in Midtown, Midtown South and the Financial District, according to its website. They are at: 1412 Broadway between West 39th and West 40th Street; 415 Park Avenue South between East 28th and East 29th Streets; and 140 West Street between Vesey and Barclay Streets.