Dutch co-working firm inks large lease at Manhattan West

IWG-subsidiary to take seven floors at Brookfield's 424-434 West 33rd Street

TRD New York /
Dec.December 05, 2017 09:42 AM

424 West 33rd Street

Co-working company Spaces signed a 103,000-square-foot lease at Brookfield Property Partners’ 424-434 West 33rd Street.

The Amsterdam-based company, a subsidiary of office suites giant IWG (formerly known as Regus), will take floors seven through 13 in the former printing loft building, the Commercial Observer reported.

The 10-year lease came with an asking rent in the $70s per square foot.

The 13-story building sits at the edge of Brookfield and Qatar Investment Authority’s Manhattan West megadevelopment. The developers originally planned to knock it down to build something larger, but ultimately changed tack.

JLL represented the tenant and Cushman & Wakefield represented the landlord.

Brookfield has been battling with the Related Companies and its nearby development Hudson Yards for high-paying tenants. Brookfield has attracted the likes of Amazon, EY, the National Hockey League, Whole Foods and JPMorgan Chase while big-name financial firms like KKR, Blackrock and Point 72 Asset Management and Third Point have inked leases with Related and its partners. [CO]Konrad Putzier

Related Articles

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

WeWork is investing again with fundraise for proptech

The Coca-Cola building at 711 5th Avenue (Credit: Google Maps and iStock)

Flipped off: The inside story of Coca-Cola’s botched building sale

Jackson Park at 28-40 Jackson Avenue and Tishman Speyer's Rob Speyer (Credit: StreetEasy and Tishman Speyer)

Tishman Speyer locks in $1B in financing for Jackson Park

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

Brookfield Property Group CEO Brian Kingston and 652 11th Avenue (Credit: Google Maps)

Brookfield drops $83M on Hell’s Kitchen hotel

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties