Jay Suites Opening 50K-SF Coworking Location at Trump’s 40 Wall
By Nicholas Rizzi July 18, 2022 4:22 pm
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Coworking firm Jay Suites plans to open a new location inside The Trump Organization’s 40 Wall Street.
Jay Suites signed a 12-year lease for 50,000 square feet on the 27th to 29th floors of the 72-story tower between William and Nassau streets, The Real Deal reported. Rent in the deal was $40 per square foot, a nearly $20 discount from the average office rent in the neighborhood, according to TRD.
In deciding to open a new outpost at 40 Wall, the coworking firm wasn’t demurred by the landlord’s association with former President Donald Trump — which caused a chorus of real estate firms, including JLL and Cushman & Wakefield, to pledge not to work with The Trump Organization in the wake of the Jan. 6 insurrection.
“The building is gorgeous and the lobby is pristine,” Jay Suites co-founder Juda Srour told TRD. “They polish the marble every day.”
A representative from Jay Suites did not respond to a request for comment.
Jay Suites will take over floors previously occupied by coworking firm WorkBetter, and its 40 Wall outpost will be its 11th in the city.
Sean Black, who owns an eponymous brokerage, represented Jay Suites in the deal while The Trump Organization handled it in-house via Eric Trump and Myles Fennon. Black and a spokesperson for The Trump Organization did not respond to requests for comment.
Other tenants in the 1.1 million-square-foot landmarked building, also known as the Trump Building, include law firms KI Legal and Liakas Law.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
