The co-working sector continues to soar in Manhattan, accounting for nearly a third of office leases signed in August. In the first half of this year, there were more than 4,300 new offices and apartments under construction or leased, according to Cushman & Wakefield, which tracks commercial real estate data. Co-working giant WeWork, which claims to be the city’s biggest office tenant, commands 5.3 million sq ft of leased space in New York City.
The co-working sector continues to soar in Manhattan, accounting for nearly a third of office leases signed in August. Flexible space operators leased 1.9 million sq ft in total during the first eight months of the year, accounting for almost 10% of all new office leases. Co-working giant WeWork, which claims to be the city’s biggest office tenant, commands 5.3 million sq ft of leased space in New York City.