The Manhattan Co-Working Craze Is Ready to Hit a Wall, Brokerage Predicts
The Convene flagship location in New York.
Photographer: Sarah Blesener/BloombergThis article is for subscribers only.
When it comes to Manhattan office space, the shares are peaking.
Co-working, or sharing a building or floor, has proved so important to office real estate in the New York borough that the market would actually be shrinking without it. Now comes a Savills Studley Inc. report predicting that the fast-expanding category, which has spurred WeWork Cos. to seek a $35 billion market valuation, is heading for a peak in Manhattan in the next couple of years.