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Office Market

WeWork leases first office space in borough of Queens

Cushman & Wakefield and JRT Realty Group announced that WeWork has signed a 15-year lease for 51,677 s/f of office space in Queens.

The co-working office space provider will occupy the entire 2nd, 4th, 5th and 6th floors at Offices at the Square, at 35-37 36th Street. Asking rents are in the $40’s per square foot at the building.

WeWork has leased the balance of the property, according to Seble Tareke-Williams of Vanbarton Group.
“We are thrilled to announce that Offices at The Square is 100 percent leased,” said George Karnoupakis, of the Vanbarton Group in prepared remarks.

Greg Smith, Ellen Israel and Kristen Morgan of JRT Realty Group together with Ethan Silverstein and Corey Horowitz of C&W represented the landlord, Vanbarton Group in the deal. WeWork was represented by its own in-house real estate team.

The building, purchased by Vanbarton Group for $30 million in June 2014, is home to Miami Ad School, the popular Studio Square Beer Garden, a 30,000 s/f ground-floor indoor-outdoor space which is on a long-term lease.

The venue has played host to Grammy-award winning bands like The Roots and events such as Summer Spit BBQ by David Burke, fashion runway shows and New York City Wine and Food Festival.

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