As coworking spaces have exploded onto the real estate scene in the past few years, the question remains: what is the next step? Matthew Harrigan plans to answer that with his venture for a mixed-use technology campus.
This Is Company is a 1.1-million-square foot midtown Manhattan high-rise being funded by the Milstein real estate family, one of New York’s top real estate families with a combined valuation of $3.1 billion.
The mixed-use space will include collaborative spaces, a cafeteria, a bar, and a gym to encourage employees in the space to network.
Facebook is the company’s first client, who will take over the first floor later this month. Other corporations Anvyl and Nomad Health are already in the process of moving into the space.
Harrigan hopes to expand this model into other cities and take advantage of the booming coworking real estate sector.
Currently, the market is dominated by coworking giant WeWork, who has 50 locations in New York City and offers flexible amenities such as desk rental.