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New York

WeWork rival the Yard plows ahead with fourth location

Company expands in Manhattan with 23K sf lease at 885 Sixth

From left: 885 Sixth Avenue in Midtown, Lance Leighton and the Yard
From left: 885 Sixth Avenue in Midtown, Lance Leighton and the Yard

Shared workspace provider the Yard has grabbed a fourth location in Manhattan, this time at 885 Sixth Avenue in Midtown.

The company signed a 16-year lease for 23,134 square feet on the second floor of an upcoming 48-story residential rental property called the Continental, between West 31st and 32nd streets. The building is expected to open early next year.

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Lance Leighton and Evan Margolin of Savills Studley represented the Yard, while Barry Goodman of Newmark Grubb Knight Frank represented the landlord, Woodbridge, N.J.-based developer Tower 111 LLC.

The Yard has locations at at 234 Fifth Avenue in NoMad; 157 Columbus Avenue on the Upper West Side; 33 Nassau Avenue in the Williamsburg-Greenpoint area; and 85 Delancey Street on the Lower East Side. — Mark Maurer

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Newmark Knight FrankSavillsThe Yard