ElevatedNY has struck a deal to expand its footprint to 130,000 square feet at the Hippodrome Building in Times Square, which will allow it to fill the space with dozens of more workers.
The coworking space provider's move extends its existing space at the property owned by Edison Properties by 26,000 square feet, according to a report by the Commercial Observer. It will now have a total of four full stories of access at the building, with the new space including a full floor that features 18 pre-built offices that are 100 percent furnished. These offices are known as Team Suites, with each one able to fit as many as 12 people for a total of 216 on the floor.
Also, tenants at ElevateNY's space can take advantage of perks, including discounts at local restaurants and hotels, on-site parking, and a membership at Equinox, the fitness club. Plus, the New York-based firm's new space will feature a pantry kitchen, a coffee bar, conference rooms, and event spaces.
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Other amenities at the Hippodrome Building include professional cleaning services, an event lobby, and meeting spaces that can accommodate up to 40 people. According to a listing posted by brokerage firm Metro Manhattan Office Space, the tenant lineup at the 680,000-square-foot property includes Chase Bank, TD Bank, BBC Studios, and Citizen Watch Company.
Move-ins at ElevatedNY's new offices are set to start in July, with pre-leasing for them now underway.
In the first quarter, Manhattan's office sector continued on its resilient recovery from the pandemic. Availability in the market tumbled by 240 basis points year-over-year to 17.3 percent, according to a report from Avison Young. That's the lowest amount recorded since 2020. Additionally, leasing surged by 20.8 percent to 10.1 million square feet, as mostly large deals pushed up the activity.
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