BY MICHAEL STOLER
More and more young entrepreneurs are looking to co-working facilities to secure relatively inexpensive desk and office space. In addition to WiFi, conference rooms and kitchen and snack prep areas, these rental business studios offer new companies the opportunity to meet with others in their field of interest, as well a venture capitalist and established business leaders.
The co-working space industry is growing by leaps and bounds, especially in New York City. Currently, the biggest player in the co-working universe is WeWork, which launched in New York in 2010 and has brought on 20,000 tenants in less than five years. It already has 13 locations in New York City alone, and is rapidly expanding throughout the U.S. and around the world. Earlier this year, WeWork signed a lease for 240,000-square-feet of space at 85 Broad Street in Lower Manhattan. Another leader in the field is AlleyNYC, who recently entered into a ten year lease for 36,000-square-feet at 119-125 West 24th St.
With many technology startups operating in Brooklyn, the latest co-working company to capitalize in the hot Borough is CoWork.rs. Earlier this year the company signed a lease for 42,000-square-feet at 92 Third Ave. in the Gowanus section of Brooklyn.
Long Island City is the home of QNS Collective, located at 36-27 36th St. Individuals have the opportunity pay $25 a day to work from a communal space. A student with a valid student ID is offered a special price of $99 a month for communal space and meet room access. Similar to other co-working spaces, individuals can rent on a monthly basis, communal and desk space as well as a private office with conference room access with prices starting at $500 per month.
Create NY Space is located in the heart of Astoria, at 35-18 37th St., next to the Museum of the Moving Images. The Aurora Gallery, a graffiti art gallery is the creator of this company. The company boasts that their space is a non-tradition co-working space, focusing more on the comfort of the creative mind. They offer a Lab-café with bottomless cups of coffee and several lounge-style seating areas. If desired, a private meeting room is available. This nontraditional co-working company is open fewer hours during the week from 10 a.m. to 5 p.m., Monday to Friday, 10 a.m. to 4 p.m. on Friday and Saturday and Sunday by request.
In March, Regus, an office suite provider signed a ten year lease for 34,000-square-feet on the third floor of the Falchi Building at 31-00 47th Ave. in Long Island City. This is the company’s first Queens location for the office space provider which has 2000 business centers in 750 cities worldwide.