Shared office space provider Jay Suites adds 7th NYC location

Firm now has nearly 250K sf in the city; plans to seek funding soon

New York /
Nov.November 20, 2014 05:15 PM

Shared office space provider Jay Suites has signed a deal for its seventh location, an 18,000-square-foot space at Abramson Brothers’ 315 Madison Avenue, the firm’s president Juda Srour told The Real Deal.

Jay Suites is taking space on the third and fourth floors at the 26-story, 148,000-square-foot property. “There’s a great window line with natural light as well,” Srour said, adding that each floor has 11-foot ceilings.

JLL’s Sean Black represented Jay Suites in the deal. With this latest lease, Jay Suites has about 240,000 square feet of space in New York City, putting it among the bigger players in the rapidly growing shared office space and co-working space industry. The company plans to seek funding early next year to fuel its continued expansion, Srour said.

WeWork, the fastest-growing operator of shared and co-working space in the city, recently raised $150 million in investment from the likes of Boston Properties’ Mort Zuckerman and JPMorgan. It is now valued at $1.5 billion.


Related Articles

arrow_forward_ios
JLL CEO Christian Ulbrich (Photo via Jll/Twitter; Photo Illustration by Kevin Rebong for The Real Deal)
JLL earnings fell 24% in 2020
JLL earnings fell 24% in 2020
Brock Emmetsberger and B6 CEO Paul Massey (Photos via JLL; Massey via Axel Dupeux)
Veteran broker Brock Emmetsberger joins B6
Veteran broker Brock Emmetsberger joins B6
JLL CEO Christian Ulbrich, Trump International Hotel in Washington DC and Donald Trump (Getty; Trump Hotels)
JLL backs out of selling Trump’s DC hotel
JLL backs out of selling Trump’s DC hotel
JLL CEO Christian Ulbrich (Getty)
JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman
JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman
JLL CEO Christian Ulbrich and CBRE CEO Bob Sulentic (Getty; CBRE; Pixabay)
JLL, CBRE keep cutting as recovery drags
JLL, CBRE keep cutting as recovery drags
Brock Emmetsberger, Tom Gammino and Will Suarez (JLL)
JLL makes cuts to I-sales team
JLL makes cuts to I-sales team
The Vitre at 302 East 96th Street with Wonder Works Construction's Joseph Klaynberg and Daniel Klaynberg (Google Maps; Wonder Works)
Wonder Works’ UES condo being shopped at foreclosure sale
Wonder Works’ UES condo being shopped at foreclosure sale
The Real Deal founder and publisher Amir Korangy and Massey Knakal founder Bob Knakal
JLL’s Bob Knakal on the future of New York
JLL’s Bob Knakal on the future of New York
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...