WeWork coming to Astoria

By Gabriel Rom

WeWork, the rapidly growing shared-office provider, has inked a 15-year lease at Studio Square in Astoria for around $2 million a month.

The company will lease more than 51,000 square feet of space, four floors of the building and its entire roof, according to a company statement.

WeWork leased space in the building, located at 35-37 36th Street, from Vanbarton Group, which bought the building for $29.2 million in June 2014, The rent was approximately $40 per square foot, according to Mark Lapidus, co-head of real estate at WeWork.

WeWork’s Astoria location will be its first in Queens and its 18th in the city.

Studio Square runs a popular beer garden on the first floor of the building and Peter Mason, the company’s marketing director, views the entrance of WeWork as part of an increasingly thriving buisness community.

“It shows a lot of confidence in the neighborhood and we can now network with WeWork,” Mason said. “Their membership is our perfect target demographic. This is basically the best scenario we could have hoped for. A rising tide raises all.”

You can reach reporter Gabriel Rom at grom@cnglocal.com or at 718-260-4564.

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