Shared workspace firm inks deal at 157 Columbus

Colliers International has arranged a long-term, 28,500 s/f lease for shared office provider The Yard at the Brodsky Organization’s 157 Columbus Avenue at the corner of West 67th Street.
The Yard, which leased the entire fourth and fifth floors of the 81,000 s/f, mixed-use retail, office, and luxury residential building, will begin offering its shared work space to members at the end of the third quarter.
This transaction hits the market after The Yard signed an 18,000 s/f lease at 234 Fifth Avenue. The two new locations will complement The Yard’s other multifunctional office collectives at 33 Nassau Avenue in the Williamsburg-Greenpoint area of Brooklyn and 85 Delancey Street on the Lower East Side.
“We’ve seen a surge in demand throughout New York City for co-working spaces” said David Kaplansky, a managing director at Colliers International who represented the tenant in the transaction.
“157 Columbus Avenue’s accessibility in this thriving neighborhood, in close proximity to Central Park, Columbus Circle, and the Reebok Club, makes it an ideal location for The Yard’s members.”
The Yard’s private work suites are designed for entrepreneurs with a vision and feature open, exposed ceilings and a simplistic, clean design by architect David Bers. These collaborative spaces are shared by multiple companies on a month-to-month basis.
Previously net-leased by the Walt Disney Co. Inc, 157 Columbus Avenue was repositioned in October and offered to the market for the first time since it was built in 1983.
“We’ve received an overwhelmingly positive response following the modernization of this property, which offers tenants sizeable open floor plates in a sought-after location,” said Alexander Brodsky a principal of The Brodsky Organization.
“The successful positioning by Cushman & Wakefield has helped establish a diverse tenant roster that expands the live/work environment in this neighborhood and presents the community with convenient services.”
A Cushman & Wakefield team, led by Josh Kuriloff, Jodi Roberts and Drew Braver represented The Brodsky Organization as exclusive leasing agent.