Industrious Leases 20K SF at Rudin’s 560 Lexington Avenue

Coworking firm Industrious is establishing a presence on East 50th Street in Manhattan,.

Industrious signed a 20,000-square-foot lease for the entire second floor of the Rudin-owned 560 Lexington Avenue, where members will have access to about 158 seats, the coworking firm and the landlord announced Tuesday.

The asking rent and the length of the lease were not disclosed, but Midtown office space averaged $78.15 per square foot in the fourth quarter last year, according to a report from Cushman & Wakefield. 

“We continue to see significant demand across our Manhattan locations and we’re excited to strengthen our network with the addition of a new location in Midtown,” Douglas Feinberg, senior director of real estate at CBRE (CBRE)-owned Industrious, said in a statement. “This new location also marks an expansion in our relationship with Rudin, with whom we have an existing location within Tribeca.” 

C&W’s Justin Halpern, Ed Wartels and Ben Bouganim negotiated on behalf of Industrious while Rudin’s Kevin Daly handled the deal in-house for the landlord. 

C&W did not immediately respond to a request for comment.

Other tenants in the 22-story, 400,000-square-foot building include education software provider Schoology on the seventh floor.

Mark Hallum can be reached at mhallum@commercialobserver.com.