IWG opens flexible office space above Grand Central Terminal – Business Observer


IWG relies on the reopening of New York.

The Swiss workspace provider has opened its first Signature brand new York location with 58,000 square feet above Grand Central Terminal, the company announced.

IWG Introduces New Brand of Signature Flexible Office Space – With First Manhattan Outpost in 250, avenue du Parc – as a workspace in emblematic buildings around the world, from London to Tokyo via Paris.

The space – located on the 7th and 14th floors – is a combination of square meters occupied by IWG’s other coworking brand. Regus and new space respectively, Cushman and Wakefield‘s David Hoffmann, a member of the team that negotiated the deal for both sides, told Commercial Observer. Hoffman expects the space to be fully open in five to six months.

“They were tenants there for a long time and there was a very cooperative relationship and a partnership between [the landlord] and IWG, ”Hoffman said. “In addition, this is a property that is only half a block from Metro-North‘s access to the north end. It is a popular location for commuters. “

The new space will include four meeting and board rooms and more than 200 workstations in a mix of private offices and coworking spaces, according to an IWG statement. Flexible office space provider partners with owner AEW Capital Management in a joint venture for Signature’s new location.

“We are particularly pleased to be working closely with our long-standing AEW partners in repositioning 250 Park as a five-star destination in midtown Manhattan for flexible workspaces,” Michel berretta, IWG’s vice president of network development, said in a statement.

Regus from IWG extended its coworking activity a few months ago at 14 Penn Plaza, after having put several of its locations in New York bankrupt last year. IWG – which also recently acquired the women-focused coworking operator, The wing – plans to open more locations in the world, including in spaces formerly occupied by the competitor We work, Reuters reported.

IWG’s Midtown space also includes a customizable video ceiling that will display a gallery of work by local artists, the company said in a statement. It also houses a security system that will allow customers to check in using Apple Technology.

Hoffman of C&W, Whitnee williams and Robert billingsley represented the owner and IWG in the partnership agreement.

Celia Young can be reached at [email protected].

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