The Yard lowers prices as co-working competition intensifies

Rent for a desk drops to $20.18 per month

TRD NEW YORK /
Sep.September 04, 2018 06:15 PM

The Yards co-working spaces in New York and CEO Morris Levy (Credit: The Yards)

Is the co-working industry heading for a price war?

The Yard slashed the rent for a desk to $20.18 per month for the remainder of the year, down from the usual $670 to $1,000, Crain’s reported.

The move comes mere weeks after news broke that WeWork is offering tenants that switch over from other coworking companies 50 percent off their first year’s rent. The company is also offering a 100-percent commission to brokers who bring them in. Last year, WeWork offered a year’s free rent to some new tenants.

The Yard’s price cut only applies to new tenants who sign up this month and commit for at least a year.

“We do need to make some noise sometimes,” the company’s co-founder Morris Levy told Crain’s. “Every single one of our members has heard of our competition. I can’t say that every one of our competitors’ members has heard of us because we’re the small guy.” [Crain’s] — Konrad Putzier


Related Articles

arrow_forward_ios
Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

What will proptech look like in 2019 and beyond?

What will proptech look like in 2019 and beyond?

From left: Amy Brandt and Dennis Gilmore

First American to buy Docutech for $350M

NestApple head broker Nicole Fishman, Localize.city president Stephen Kalifowitz, RentHop founder Lee Lin and RoomZoom founder Elien Becque

Broker-fee ban could boost some startups, doom others

House Canary CEO & co-founder Jeremy Sicklick (Credit: iStock)

Home-valuation startup closes $65M funding round

City Council Speaker Corey Johnson (Credit: Getty Images, iStock)

City Council wants more oversight of “ghost kitchens”

Kitopi CEO Mohamad Ballout (Credit: Kitopi and iStock)

“Smart” kitchen and delivery startup raises $60M for US expansion

arrow_forward_ios
Loading...