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The Emerging Trend of Co-Working Spaces

Real Estate Developments

New York housing developments are now exploring a new trend in “recreational” space.  Buildings like Nine52 and Abington House are forgoing some of the sportier amenities of other luxury developments in lieu of co-working spaces—on-site areas designed for working from home in a comfortable, social environment.

Co-working spaces appeared on the scene over ten years ago as independent businesses in places like Brooklyn and Los Angeles.  Even today, hip residents of Astoria can venture down to QNS Collective, a co-working destination that brands itself as a place for entrepreneurs to share ideas.  SoHo artists can create and share their work at NeueHouse.  Other niche spaces cater to certain hobbies: New Love City integrates their space with a yoga studio; Bar Works is also, well… a bar.  These places sell memberships of various tiers, usually ranging from around $250 for a monthly subscription to $7,000 for dedicated offices, concierge service, and a full-service spa.  Some places also sell day passes for around $40 (if you can find an open desk).  Most locations come equipped with a coffee bar or restaurant.

Housing developers like GAIA Real Estate and Kushner Companies have embraced this new workspace trend.  Nine52, GAIA’s latest luxury condo in Hell’s Kitchen, treats its residents to a co-working room lined with chalkboard walls and independent desks, attached to a communal kitchen.  Kushner’s new Williamsburg condo, Austin Nichols House, extends its co-working space onto an outdoor courtyard with multiple fireplaces, a café, and a play area for children.

Roughly 43 percent of Americans work from home on some occasions.  About 7 percent work exclusively from home.  With the rise of digital technology has come a new freedom for business-people, but with the associated isolation in a home office setting.  Co-working spaces offer a solution to the isolation of telecommuting, providing the amenities of the office with all the comforts of home.

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