NewsCase StudiesEvents

Cost Per Desk New York

Also in the news...

Moving Abroad For Work: How To Manage Your Finances

Relocating to a new country to start a business or get an exciting new role is an exhilarating process, but you need to make sure that you’re fully prepared.

International Trade Secretary opens the Global Investment Summit

Secretary of State for International Trade, Anne-Marie Trevelyan, welcomes overseas investors and delegates to the Global Investment Summit in London.

Croatia: providing services and travelling for business

Guidance for UK businesses on rules for selling services to Croatia.

Prime Minister and Bill Gates launch £400m partnership to boost green investment

The strategic partnership with the Breakthrough Energy Catalyst will mobilise £200 million of private sector funding over 10 years.

What is the Superbonus and how to benefit from it, even if you don’t pay Italian income tax

It’s recent news the Superbonus 110% has been recently extended to 2023, and this is great if you intend to renovate your home. Superbonus 110% isn’t the only available tax break on house renovations; find out how you can save on your taxes whilst renovating your Italian home.

Cost Per Desk New York

Back to News

New York remains one of the largest markets for flexible workspace in the world, ranking second globally for the growth in the supply of flexible workspace over the last year

Instant Offices’ reportfound that over 330 individual flexible workspaces are available in New York alone for an average of $1,113, and while that’s almost double the average price in Hong Kong, New York remains one of the most desirable places for businesses looking for flexible office solutions.

  • Brooklyn: $432,60
  • Queens: $350
  • The Bronx: $327,50
  • Staten Island: $375
  • Manhattan: $1,191

Cost Per Desk at a Glance:

New York a Top Contender for Flexible Offices

Nearly half the total flexible workspace in New York City is listed as co-working space, showing the quick evolution from the executive suites of old to a new hybrid model that blends shared and private office space. This is a strong indicator of a healthy market – with robust demand – and an appetite among developers and operators of space to increase the supply of centres to meet demand.

Of the serviced offices on offer in New York:

Co-working

Hybrid

Other

Serviced

Manhattan

20%

24%

2%

55%

The Bronx

25%

50%

0%

25%

Brooklyn

52%

31%

3%

14%

Queens

31%

31%

0%

31%

Staten Island

17%

50%

0%

33%

 

New York’s Boroughs for Flexible Working

People flock to New York from all over the globe for work opportunities, the city is one of the strongest global locations for business growth and talent acquisition, there’s a huge creative class, and property, both residential and commercial, are in high-demand.It’s no wonder that co-working spaces in Brooklyn, Queens, The Bronx, Staten Island and Manhattan are booming.

For a concept that was unheard of 10 years ago, businesses throughout New York today recognize the value in renting a hot desk and shortening their commute while being surrounded by like-minded, entrepreneurial, and business-savvy people.

According to Michelle Bodick, VP of Sales and Marketing for the US atThe Instant Group:

“From our experience in New York’s market, SMEs and corporates are both taking a keen interest in the type of “curated space” that co-working operators provide so well. With these spaces providing a variety of amenities, while being creative in their provision of networking events and working hard to engage with their occupier base, it’s of little surprise co-working spaces in New York has grown to over 47% of the flexible office space market.”

Property Growth in New York’s Top Boroughs

New York and other top global cities have shown trajectory growth of 12% over the past 12 months, with the opening of additional centers in New York contributing greatly to this. WeWork also opened 20 new centers during this time.

From 2016 to 2017, the growth of flexible centers in New York have increased:

  • Manhattan: 9%
  • The Bronx: 50%
  • Brooklyn: 9%
  • Queens: 11%

For businesses looking for flexible office solutions, the supply in this and other key global cities will continue to be relatively constrained and prices will maintain strong levels, especially where developments come at a premium.

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.