Between WeWork becoming the largest private office tenant in Manhattan, D.C. and London, Knotel’s leasing binge this year and Convene’s foray into designing and building flexible workspaces for landlords, you would be forgiven for thinking the coworking landscape is close to capacity.
Not so, says Spaces co-founder and CEO Martijn Roordink. He founded his flexible workspace company in Amsterdam in 2008 and sold it to Dutch giant Regus — which has since changed its name to IWG — in 2014. In recent weeks, it has announced a slew of new leases in New York City, and it is readying a major expansion in 2019.
Last month, Spaces inked a deal for 110K SF at the Chrysler Building, the company’s biggest location in the city. It is also taking nearly 100K SF at 787 11th Ave. and 62K SF at 175 Pearl St. in Dumbo. As of this week, it will begin opening up the 11th, 12th and penthouse levels at the 110K SF location at Brookfield’s the Lofts building in the Manhattan West megaproject.
The firm already has locations at the Helmsley Building at 230 Park Ave. and at the Falchi Building in Long Island City. At the beginning of the year, Spaces announced it was expanding to Staten Island.
“The single tenant doesn't exist anymore. The long-term contract doesn’t exist anymore,” Roordink told Bisnow in an interview discussing how the United States fits into the company's global expansion plan. “If you look at Manhattan, compared to WeWork we are still very, very small. But we believe, as a global company, that we have to act local. So the structural level, within New York, for example, is that we want to have, within every neighborhood, one Spaces.”