The Real Deal New York

Dutch co-working firm inks large lease at Manhattan West

IWG-subsidiary to take seven floors at Brookfield's 424-434 West 33rd Street
December 05, 2017 09:42AM

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