Starbucks puts the lid on 400 stores
Renting shared office space by the day or month is fast becoming a popular option for the city’s freelancers and entrepreneurs. The Downtown Alliance’s the Hive at 55, a shared workspace on 55 Broad Street‘s 13th floor, is home to a number of start-ups who’ve outgrown Starbucks and freelancers who’ve tired of the isolation that comes with working from home. Membership ranges from $25 per day to $500 per month with access around the clock to the 4,000-square-foot space, which has desks, private offices, a kitchen, a lounge, a conference room, and a “quiet room.” With financial support from the city’s Economic Development Corp. and landlord Bill Rudin, the space, which the alliance has leased for three years, underwent a $100,000 renovation and is still able to keep its membership prices low. Shared office spaces like these are popping up all over Manhattan. In September, Green Spaces, an incubator for environmentally-friendly businesses, moved to Tribeca from Brooklyn, and an incubator for young fashion designers is being planned for West 38th Street, in the Garment District. [Downtown Express]
