Coworking company Industrious has signed a lease for all 33,000 square feet of office space at RFR’s 190 Bowery in Nolita, according to reports from the New York Post and Commercial Observer. The building, which totals 38,000 square feet, has been mostly vacant since RFR acquired it a decade ago.
The asking rent for the space was $95 per square foot and the lease is set for seven years. JLL’s Clark Finney, Alex Riguardi and Jake Bargas represented the landlord with an in-house team, while Natalie Levine and Kylie VanBuren of Industrious acted on behalf of the tenant.
The property at 190 Bowery has a long history. Photographer Jay Maisel purchased it in 1966 for $102,000 and lived there with his family until selling it to RFR in 2015 for $55 million. Since then, RFR modernized much of the building and removed graffiti from its upper floors. While initial plans considered a mix of condos, retail spaces or an art gallery, streetwear brand Supreme now occupies its retail area.
Industrious has been expanding recently. In addition to its move into Nolita, the company leased about 20,000 square feet at 220 Park in Burlingame in California’s Bay Area and is developing two new locations near Stanford University.
Earlier this year, CBRE agreed to purchase the remaining 60 percent stake in Industrious after previously investing several years ago. This transaction valued Industrious at around $800 million. The coworking firm now operates more than 160 locations across over 65 cities worldwide.
