The Shop Workspace to Open Coworking Location in Brooklyn
The Shop Workspace will open a new 12,000-square-foot flex office location in Brooklyn, N.Y., at 420 Carroll, a 380,071-square-foot mixed-use development in the Gowanus neighborhood.
The new space will open in early 2025 at the building’s second floor and marks the flex office provider’s third location nationwide, with the other two being in Salt Lake City and New Orleans.
The Domain Cos. is the landlord and developer of the $300 million project, which includes a 21-story mixed tower and an adjacent 16-story building. The company broke ground in May 2022, with move-ins expected to begin this fall. The development will also feature 27,000 square feet of retail space. The 360-unit residential project is backed by a $158 million construction loan, originated by Bank OZK, according to CommercialEdge.
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The development team includes FXCollaborative, Alan Mainer Studios as interior designer and the landlord’s affiliate, Good Co., as the broker in charge of residential leasing. The project is expected to reach completion this year.
Coworking opportunities
The Shop Workspace’s upcoming coworking location will include shared common areas, phone booths, a staffed reception space, pet-friendly offices, meeting spaces, conference rooms, mail and business services and an office kitchen, among others.
Pre-leasing is already underway, with monthly memberships available for part-time and full-time common spaces, private offices, creative studios, day or shared passes or hybrid solutions for future members.
In partnership with Arts Gowanus, The Shop will provide seven studios which will be awarded to local artists through a lottery system, while six Gowanus Mix studios will be available for local businesses at a reduced cost. The collaboration is made possible by the Gowanus Mix zoning and will involve year-long agreements.
The mixed-use project will be close to the Union Street R subway station and within walking distance to downtown Brooklyn. Midtown Manhattan is 6 miles away.
Flex office providers expanding in NYC
As of April, Manhattan’s coworking sector totaled nearly 9.5 million square feet, representing 2.5 percent of total leasable office space, the largest out of all gateway markets, according to a CommercialEdge market update. The biggest coworking provider in the borough was WeWork, with operations totaling 4.9 million square feet. Industrious was the second largest one, with an 875,000-square-foot footprint. The company extended and expanded its lease at 860 Broadway, bringing its footprint at the historic six-story property to 27,630 square feet.
Other deals include Convene’s 22,519-square-foot expansion at Stawski Partners’ 360 Madison Ave., in Midtown Manhattan, bringing its footprint to 68,000 square feet at the property.
Back in March, The Malin signed a 20,000-square-foot deal at TF Cornerstone’s 387 Park Ave. S. The new coworking space, dubbed The Malin NoMad, marked the company’s fourth location in New York City.
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