WeLive, the co-living business operated by WeWork, is raising the list price of a studio apartment in its furnished complex in Manhattan’s Financial District to $3,050 a month. The same unit was listed at $2,800 when WeLive put the building on the market in April, but no one was actually paying that. WeLive allowed its earliest occupants to move in under a “friends and family” arrangement that discounted rents by 15% to 20%, making a studio as cheap as $2,240.

Such deals persisted for several months, but they became less generous as rooms filled. Over the summer, WeLive lowered its discount on studios to 10%, or $2,520, and offered it only to people who agreed to stay for a year or more. By November, the company said options for a discount were “limited,” with almost all incoming studio residents paying $2,800 a month. Rents for other units have also increased to match the prices WeLive advertises. Four-bedroom apartments that cost about $6,000 a month for early occupants now start at $8,000.

Via qz.com >

"They don't build 'em like they used to." It's an oft-repeated phrase by those who wax nostalgic. But in the case of the Corbin Building—an office building architect Francis H. Kimball designed in 1888—the saying holds true. The distinguished Renaissance-Revival structure is covered in terra-cotta tile embellished with floral patterns. Inside, its monumental staircase with marble steps and an ornate bronze banister ushers visitors up its nine stories. Original wainscoting and cast-iron fireplaces are found throughout the space.

Via fastcodesign.com >

Sam Rosen would be the first to tell you that coworking has a bright future. After all, the designer and entrepreneur runs Deskpass, a Chicago-based coworking subscription service that lets workers float between a curated selection of shared workspaces; it’s his job. He helped found one of Chicago’s first working spaces, the Coop, before creating Deskpass, and compares the growing industry to cafes: For every big-name shop like Starbucks, there’s a funky little neighborhood spot opened by an operator with passion and community spirit.

Via curbed.com >

Today, coworking office purveyor WeWork opened up their latest location on the third floor of the Fulton Center in Downtown Manhattan. The office pays homage to both old and new (a hallmark of WeWork’s office interiors) integrating the Fulton Center’s iconic Rotunda and the Corbin Building, which was built in 1889.

The project is WeWork’s 15th office in a landmarked site (the Corbin Building was landmarked in 2015) and its eighth in New York City. Cautious of eradicating the 127-year-old building’s history, WeWork kept new design interventions to a minimum. Existing elements in the Corbin Building, including an eight-story bronze and marble staircase, along with Guastavino tiles in the arches of the doorways (which form part of the French Gothic detailing found throughout the building and on its facade), were renovated.

Via archpaper.com >

A new co-working company just opened in Seattle, and its founder wants to rewrite the rules of a concept that is growing like crazy, but primarily targets only a few industries.

Traditionally, co-working is thought of as a trend reserved primarily for the technology industry, a series of small flexible office spaces for startups getting their feet under them. Atlas Workbase is a co-working company that is aimed at everyone, from technology startups to more traditional businesses, to traveling workers who just need an office for a couple days.

Atlas this month opened its first location, a 20,000-square-foot space with a variety of office and desk setups at 500 Mercer, just a few blocks west of Amazon’s Seattle headquarters.

Via geekwire.com >

The co-working business model — which propelled co-working giant WeWork to a $16.9 billion valuation last month — may be changing tack.

WeWork has carved out a niche for itself by signing long term-term leases for office space that it then refurbishes, divides and rents out at higher rates. Now investment dollars are flowing to a different kind of co-working business model, according to the Wall Street Journal. Increasingly, WeWork rivals are operating like hotel chains, where landlords pay them a fee and keep most of profits.

Via therealdeal.com >

The business model behind the co-working craze is falling out of favor.

Until now, fast-growing co-working providers such as WeWork Cos. have generally stuck to a buy low, sell high financial model.

In short: They sign long-term leases for office space they then refurbish, divide into incubator-like smaller spaces and rent out at high rates a month at a time.

This practice carries much risk given its high fixed costs: rent to landlords. But it also can create hefty profit margins during good times. That promise has propelled WeWork to a nearly $17 billion valuation.

Now hundreds of millions of dollars in investment is flowing into WeWork competitors pursuing models more akin to hotel chains, where landlords pay co-working operators a fee and keep most of the profits. That moves the risk away from the startup co-working companies and back toward landlords.

Via wsj.com >

Would you like to buy a co-working desk with that cable package? Telecommunications firm Verizon opened its first shared office space at 140 West Street in Manhattan earlier this year and plans to open similar spaces in Boston, Washington D.C. and London.

Unlike WeWork , which has to rent office space from landlords, Verizon actually owns plenty of office buildings in neighborhoods popular with yuppies. At 140 West Street, for example, Verizon owns the lower 10 floors (it sold the top portion to developer Ben Shaoul, who is converting them into condos).

Does that mean WeWork has to worry about a serious corporate rival emerging? Probably not. Verizon — which has been negotiating to acquire Yahoo for $4.8 billion — sees its co-working venture mainly as a neat way to use excess space and get “engaged in the [tech] community to see what’s going on,” according to John Vazquez, the firm’s head of real estate. And it isn’t even managing the space — co-working provider Grind is taking care of that, according to the Wall Street Journal.

Via therealdeal.com >

You’ve probably heard of coworking by now. It’s not just a fad — it’s here to stay. Why? Because coworking brings with it a new chapter of opportunities and innovation.

As the industry continues to grow, here are my top ten predictions for coworking in 2017.

Via workdesign.com > [paywall]

If fluorescent-lit cubicles suck your soul dry, these coworking spaces in Asia will make working a joyful experience again. Hell, they may just make you skip out of your own vacation so you can bask in the glory of their designer interiors.

Via mashable.com >