Co-working provider the Yard leases entire Gowanus building

Asking rent for the deal was $40 per foot
May 26, 2016 11:00AM

Co-working office provider the Yard secured its seventh location in New York City, leasing an entire 25,000-square-foot building in Gowanus.

The firm signed a 15-year deal to take over the three-story property, owned by Serajbit Singh and located at 157 13th Street between Third and Fourth avenues, Commercial Observer reported.

The Yard plans to open the new space in November. Asking rent for the building was about $40 per square foot.

“The Yard was always interested in the location because of the [industrial] character of the building,” Kalmon Dolgin Affiliates’ Robert Klein, who represented both the tenant and the landlord, told the news service. “They are going to have an entrance made from a [loading dock]. The windows are going to be all new. They are going to polish the floors and open up skylights.”

The location will feature exposed brick walls and wood ceilings, keycard access and art installations, as well as a 1,900-square-foot cafe and a roofdeck.

One of the company’s rivals, Cowork|rs, took 30,000 square feet at 68 3rd Street in Bushwick back in April. [CO]Ariel Stulberg