The Real Deal New York

Citco gets into shared office space game, poaches Regus exec

Company takes 20K sf at Ziff Bros.' 350 Park

July 23, 2015 12:15PM

350 Park Avenue in Midtown (inset: Ted Doukakos)

350 Park Avenue in Midtown (inset: Ted Doukakos)

The Citco Group of Companies is the latest entrant into the field of shared office space management, with plans to open up an outpost at 350 Park Avenue and the addition of a former Regus executive to show them the ropes.

Ted Doukakos, previously general manager of competitor Regus, has hopped to Citco to oversee its New York City venture. Regus is one of the largest shared office providers in the city.

Citco is a financial services firm, and has already been experimenting with shared office space — having opened what it calls “Gateway Business Centers” in Singapore, Amsterdam and Luxembourg.

The space is slated to open in September. It will offer furnished office space for companies ranging from two to 10 employees, and feature communal common areas, a cafe, a terrace and an event space, Crain’s reported.

“We look forward to giving businesses of all sizes and growth stages – from start-ups to established investment firms to multi-national corporations – the support and solutions needed to compete and succeed,” said Jay Peller, global head of sales and product development at Citco.

Plans for a WeWork-anchored Brooklyn Navy Yard office building were recently announced. [Crain’s] — Tess Hofmann