Connect with us




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’ report found 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 at The 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.

Cost Per Desk New York City Instant Offices

Cost Per Desk New York City Instant Offices

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate


Newsletters with Secrets & Analysis. Subscribe Now