Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
- Set to launch in April of 2023, Colette Club is a coworking office on Fifth Avenue designed specifically for “the world’s most successful business leaders.”
- Instead of charging one flat, monthly fee, Colette asks for an initial buy-in of $125,000 and requires its members to pay annual dues of $36,000.
- Elevated more than 500 feet in the air, Colette’s offices give members a beautiful, panoramic view of Central Park, the Empire State Building, the Hudson River, and more.
Set to launch in April of 2023, Colette Club — a coworking office designed specifically for the inordinately wealthy — could redefine the way that elite professionals work in our increasingly digital, nomadic age.
Coworking spaces are gaining traction faster than ever, and while companies like NeueHouse, another New York-based company with a high entry price, have shown that high-class workers are willing to spend a bit extra for prestigious coworking spaces, Colette is taking this sentiment to the next level.
The exclusive club could lend further credence to the fact that flexible work isn’t just for startups and eager entrepreneurs. If Colette is successful, it will further prove that coworking spaces are a legitimate option for businesses that simply do not need access to regular physical space.
Information about the club is sparse and the website provides nothing more than an inquiry form and a way to log in for already-approved members. But, according to Bloomberg, Colette was designed by the Safra family and Juan Santa Cruz and will be located on the 37th floor of the Manhattan General Motors building.
But what is it that makes this space so expensive and what sets it apart from a traditional coworking space? Let’s find out.
How much will a membership cost?
The average coworking space in New York costs anywhere from $300-400 per month for standard office space to upwards of $3,500 per month for more exclusive space.
Colette, however, is upping the bar.
Instead of charging one flat, monthly fee, Colette asks for an initial buy-in of $125,000 and requires its members to pay annual dues of $36,000.
While NeueHouse, Ned NoMad, and The Core have already launched spaces with very high monthly fees, Colette is seemingly the first of its kind that focuses on flexible workspace over leisure and networking to require such a hefty buy-in.
If patrons were worried about over-saturation, they don’t need to be. Colette will launch with the maximum number of patrons capped at 300, and to lend further legitimacy to the idea that coworking spaces aren’t just sunk costs, members will be able to sell their membership to other potential patrons when the time is right.
New York has a long and storied history with exclusive clubs, but by allowing its members to resell their membership and focusing on office space, Colette is attempting to combat the concept that high-value business people need a traditional office to be taken seriously.
Amenities included in this exclusive club
Ned NoMad provides hotel accommodations to its members, NeueHouse positions itself as a cultural breeding ground, and The Core is a call-back to the high-society cotillion clubs New York was once known for.
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While Colette offers some of these ritzy amenities, too, its primary focus appears to be considerably more straightforward: office space for the wealthy who don’t need full-time space in New York. (Think international business meetings, or San Francisco tech companies that don’t have a permanent base in New York.)
On the 37th floor, there are 23 400-sq-ft private offices, complete with extra seating for guests, videoconference tools, and individualized climate settings.
Each office is designed to give members a personalized experience, with onsite staff ready to greet patrons and act as full-time support as they enter the building.
Rather than simply providing technical help or answering questions about mail forwarding, the staff at Colette will reportedly handle secretarial work like calling cars, document binding, food and beverage deliveries, and leading guests to meeting or conference rooms.
Additionally, Colette members are given de-facto access to other amenities in the GM building, like the fitness center, Coco (Colette’s very own restaurant with a separate, lower-cost member base), and more.
Outside of these vibrant amenities, Colette’s location itself is enough to cause envy. Its location in the higher half of the 50-story General Motors building is situated at 767 Fifth Avenue.
Elevated more than 500 feet in the air, Colette’s offices give members a beautiful, panoramic view of Central Park, the Empire State Building, the Hudson River, and more.
Although the office and its required buy-in may seem frivolous to the rest of us, this high-priced club serves to legitimize coworking spaces even further.
With the launch date rapidly approaching, the results of this high-cost, experimental coworking space remain to be seen.
