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- Category: Coworking Industry
Soho Works, a coworking concept by members-only club and hotel Soho House, is opening its first location in the city.
The flexible-workspace brand signed for roughly 50,000 square feet at 10 Jay St., a recently renovated office property in Dumbo, a source said.
The space will be Soho Works’ third location since launching in London in 2015; the other is in Los Angeles. The Dumbo outpost appears to be the largest of the three.
A spokeswoman for Soho House did not immediately respond to a request for comment.
The Jay Street workspace is close to Empire Stores, the redeveloped, century-old former tobacco warehouse on the waterfront where Soho House opened Dumbo House. Dumbo House is a members-only hospitality offering with a rooftop pool, restaurants and overnight accommodations, whereas Soho Works will be for individuals, startups and companies that want flexible, ready-to-use offices.
Rents at 10 Jay St., which is clad in a faceted glass facade, range from $70 to $85 per square foot. Soho Works took the building’s second and fifth floors in the deal. Owner Glacier Global Partners hired a leasing team from JLL led by Howard Hersch and Sam Seiler to market space in the building and arrange deals.
The lease is the latest sign of continued growth in the flexible-workspace industry. Knotel, which aims to grow dramatically in the mold of its rival, WeWork, is close to a deal to lease the historic Flatiron Building in its entirety, according to a story yesterday in the Financial Times.
Industrious, another growing brand, just signed deals to double the number of locations it has in the city and plans to open several more before the end of the year, its chief executive said.