Jay Suites Opening 60K-sf Facility in Chelsea
Coworking space provider Jay Suites has signed a 16-year lease at 159 West 25th Street. The 60,000-square-foot lease that includes a rooftop space had a steep below market asking rent of $30 per square foot. The company plans to divide use of the space that is located on the 2nd through 5th floors and 7th through 8th floors into 40,000 square feet for coworking use and the remaining 20,000 square feet for its conference rental company Jay Conference. The new location will establish Jay Suites’ 10th New York City outpost upon opening in the 2nd quarter of 2023.