A hospitality-focused coworking firm is setting up shop in Manhattan\u2019s NoHo neighborhood, Commercial Observer has learned.<\/p>\n
The Malin signed a 15-year lease for 19,400 square feet on the entire fifth floor of GFP Real Estate<\/a>\u2019s 10 Astor Place. The new site three blocks east of Washington Square Park will be the firm\u2019s fifth location in Manhattan following its 2021 launch at 32 Mercer Street in SoHo, according to the landlord.<\/p>\n SEE ALSO: New Thai Restaurant to Open in 11K SF at 321 West 51st Street<\/a><\/p>\n GFP declined to provide asking rent for the building, but the average office asking rent in Midtown South was $86.38 per square foot in May, according to a report from CBRE.<\/p>\n \u201cWe were drawn to The Malin<\/a> because of the quality of their product and the thoughtfulness of their design,\u201d GFP\u2019s Neith Stone, who represented the landlord in-house alongside David Kaye, said in a statement. \u201cThey create exceptional environments for today\u2019s office users, and their commitment to hospitality aligns perfectly with our vision for the building. Their decision to commit to Astor Place long term speaks to both the enduring appeal of NoHo and the caliber of tenant we\u2019re proud to welcome.\u201d<\/p>\n John Mears of Rue<\/a>, who represented the tenant in the transaction, did not immediately respond to a request for comment.<\/p>\n \u201cThe building\u2019s character, location and accessibility made it an ideal fit for our next New York location,\u201d Ciar\u00e1n McGuigan, founder and CEO of the Malin, said in a statement.<\/p>\n Overall, the workspace in the building from 1910 will be the Malin\u2019s eighth New York City location, with the most recent deal being a 15,000-square-foot lease at United American Land\u2019s 57 Court Street in Brooklyn Heights in November 2025<\/a>.<\/p>\n