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Square Feet- For Tight-Times,Ottice Space on Flexible Terms- NY... littp://www.nytimes.com/2009/01/21/business/2l suites.html?_r=IOa... <br /> Some,industry officials say they believe weakness in the rental market will create attractive expansion <br /> opportunities for business center operators. <br /> Regus is the largest operator in the city,running suites under the names Regus and HQ. It leases office <br /> space on long-term basis,and then sublets the space on a short-term basis to its own tenants. <br /> Other business center companies that lease the space they later rent out include Rockefeller Group <br /> Business Centers,Sunshine Suites and Wurk Environments,which is the operator of the new center at 1515 <br /> Broadway. <br /> Some companies operate business centers in buildings they own. Besides Vornado, these include Edison <br /> Properties,which operates a business center in the Hippodrome Building,at 1120 Avenue of the Americas. <br /> In addition, Edison,which also owns Manhattan Mini Storage, rents out loftlike office spaces, marketed <br /> tinder the name Workspace,in three of its storage buildings: 503o Broadway at 213th Street, 131 Varick <br /> Street at Spring Street and 55 Vandam Street at Varick Street. <br /> Another company, Pearl Realty,a Brooklyn-based developer,owns a turn-of-the-20th-century former <br /> coffee factory at 155 Water Street in Dumbo,where Miguel McKelvey,the general manager,said$5 million <br /> had been invested in refurbishing the building and starting up Green Desk.Jack Guttman,president of <br /> Pearl,owns half of Green Desk. <br /> Each of the building's six floors covers 4,000 square feet and is divided into some 30 offices.These range in <br /> size from 25 square feet—one desk in an open cubicle — to a Soo-square-foot office that accommodates up <br /> to seven people. <br /> Monthly fees for Green Desk's tenants range from $375 for a one-desk cubicle to $3,50o for the <br /> Soo-square-foot office; these charges cover Internet access but not phone service,which is extra. Besides <br /> Mr. Humphrey, tenants include a calligrapher,a tour operator,an investment manager and a fashion <br /> designer. <br /> Wurk occupies the lith and 12th floors of 1515 Broadway. Each floor is 33,000 square feet,divided among <br /> loo offices.With d6cor by Swanke Hayden Connell Architects that features Haworth modular office <br /> furniture,and views of Times Square and the Hudson River,each floor has a reception area for a concierge <br /> and other support staff,a cafe,a business lounge and conference rooms. <br /> Monthly rents start at $t,5oo for an 85-square-foot office with one desk and a door that locks,and go as <br /> high as $16,000 for an 800-square-foot office accommodating 14 people. Internet and telephone access <br /> and other support services are an additional $40o each month for each person. <br /> Edison's Workspace offices— which provide Internet capability but few other business center services— <br /> range in size from t50 square feet,available for$65o a month at 503o Broadway, to 1,400 square feet, <br /> offered at$5,00o a month at 131 Varick Street.Tenants include artists,graphic designers and film <br /> production companies. <br /> The depressed economy appears to be affecting operators differently. For example,Joseph DeTrano,a vice <br /> president of Wurk,said it had signed up"more tenants than we had planned for at this point." <br /> 2 of 3 4/8/2011 11:26 AM <br />