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BitInstant LLC, an online bitcoin money exchange, has leased short term office space near Penn Station. Bitcoins are a virtual currency. Having outgrown its “start up” space on west 23rd Street, BitInstant has relocated to 256 West 36th Street where they will occupy the entire 3rd floor measuring 3,400 rentable square feet. Mitchell Waldman of Cogent Realty Advisors negotiated the lease for BitInstant.
The short term office space is owned and managed by iLoftSpace WorkPlaces, LLC. Conveniently located steps from both Penn Station and Port Authority, iLoft provides turn-key furnished space for 1 to 48 persons with monthly desk rates starting at $500, and monthly private offices from $1,100. The facility is well suited for tech and media firms and has unlimited 75 Mbps internet connectivity (wired and WiFi) as well as VOIP telephone system. Use of three conference rooms, a pantry and Tenant-controlled
HVAC are included. ILoft operates a similar facility at 192 Lexington Avenue (32nd Street) which has a capacity of 61 persons on a 7,600 rentable square foot floor.
Short term furnished office spaces provide users with the convenience of an instant office, scalable space and a flexible term. They are designed for: (1) Start up ventures; (2) Stable small businesses; (3) Special project work space; and (4) Swing-space.. i.e., where a business goes while its waiting for its new office to be built.
According to Waldman, there are many short term office space operators in NYC and each has a distinct internal environment, culture and negotiable pricing. If you are looking for a high quality corporate facility Waldman recommends Vornado’s Powerspace. Locations include 330 Madison Avenue, One Penn Plaza and 770 Broadway (Union Square).
For information about leasing short term office space contact Cogent Realty Advisors at (212) 509-4049.
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