The Real Deal New York

Coworking space provider the Yard signs at 234 Fifth

February 05, 2014 01:52PM

In another sign of the surging interest in shared-office space, Kenart Realties signed the Yard to the full office component at 234 Fifth Avenue at 27th Street.

The Yard, a shared office specialist, agreed to sign up for 15 years in an 18,000-square-foot space near Madison Square Park. This is the company’s third outpost after 85 Delancey Street in the Lower East Side and 33 Nassau Avenue in Greenpoint. Lance Leighton and Evan Margolin, both of Studley, represented the Yard, while Peter Waters represented Kenart in-house.

“The Yard is actively seeking strategic growth opportunities, which will enable them to offer clients the best overall value,” Margolin told the New York Observer. “We continue to explore options in all submarkets across New York City.” [NYO]Mark Maurer