This coworking space is located in central Manhattan on the bustling 25 West 39th Street. On more than 16,100 square feet, this is an exciting opportunity to take over an existing coworking space, keep it’s members, it’s furniture, and instantly expand in Manhattan. The space is beautifully designed and is ready for a financial comeback this fall.
It’s ready for a Come Back
In 2019, the space generated over $876,000 in membership revenue and nearly $8,000 in event revenue. The space survived COVID and has a strong foundation of members to build on as the coworking industry roars back. In fact, we recently saw that the New York Industrious location is 97% full in capacity. With the new coworking membership wave back in full effect, this space will be undoubtedly successful. It is looking for a new operator to take the over space with a new lease.
This is a great way to expand into one of the world’s hottest coworking markets without have to buy furniture, build out offices, and hope for the first few customers. If you are an experienced operator then this is an opportunity to instantly grow. The space is only a few years old and it was professionally designed. The new operator will inherit all of the art, desks, and equipment. It’s a fully operational coworking space.
|Lease Terms||5+ years remaining|
|Vibe||Airy with old fashioned architectural details|
What’s a takeover coworking space?
A ‘takeover’ space is when a new operator signs a new lease with the landlord and inherits the existing assets and members. No debt is transferred over and the new operators instantly launches a new location. This is helpful to the former operator because it allows them to exit their current lease obligations as their future plans and strategy changes. With this particular space, the new operator will negotiate new lease terms that accurately reflect the current market conditions.
What are the next steps?
You should contact the existing operator through the DenSwap message platform to your right. You can ask for further information about the current revenue, new lease terms, and next steps. The DenSwap team is always here to help as well.