Credit-worthy cash flow from co-working operators is opening the capital markets to underwrite assets with co-working tenants.

Both the redevelopment of historic buildings and new construction is changing the city's CBD.

Common Desk recently announced its expansion into the Innovation District of the West End neighborhood with Common Desk–Factory Six03, a 18,085-square-foot co-working space.

The average asking rent across Manhattan's 16 main retail corridors dropped 8.4% year-over-year, falling from $875-per-square-foot to $802 per-square-foot.