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Flex coworking company signs its fourth lease this month

Flexible coworking space company Spaces is continuing its leasing spree with its latest 61,000 s/f lease at 175 Pearl Street.

The Amsterdam-based company owned by IWG will take up part of the first floor and the entire second and third floors of 175 Pearl Street beginning early 2019. The company will get its own private street entrance, access to the eight-story building’s rooftop and a café.

Spaces was represented by CBRE’s Mark Ravesloot, Scott Sloves and Peter Danna and the landlord, Normandy Real Estate Partners, was also represented by CBRE through Neil King, Patrice Meagher, Paul Amrich, Jeff Fisher and Sacha Zarba.

“Spaces targeted DUMBO for its second location in Brooklyn due to the popularity of the area with its members, the 24/7/365 nature of the neighborhood and its great amenity base,” Ravesloot said. “175 Pearl Street offers the most central location in DUMBO in relation to subways to Manhattan and to the rest of the borough.”

The 175 Pearl Street lease comes about a week after Spaces signed a 99,000 s/f lease at 787 11th Avenue. Spaces also signed a 110,00 s/f lease for 15 years in the Chrysler Building at 405 Lexington Avenue and a 100,000 s/f 15-year lease at 287 Park Avenue South earlier this month.

“New York City and its surrounding boroughs remain a key focal point in our U.S. expansion plan,” Michael Berretta, IWG’s vice president of network development, said. “As we continue to grow Spaces’ presence in the area, opening a second location in Brooklyn was a natural next step.”

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