{"id":367,"date":"2022-11-21T07:45:18","date_gmt":"2022-11-21T07:45:18","guid":{"rendered":"https:\/\/www.coworkingcafe.com\/blog\/?p=367"},"modified":"2025-09-25T09:53:19","modified_gmt":"2025-09-25T09:53:19","slug":"jay-suites-to-open-10th-location-at-record-price-in-chelsea","status":"publish","type":"post","link":"https:\/\/www.coworkingcafe.com\/blog\/jay-suites-to-open-10th-location-at-record-price-in-chelsea\/","title":{"rendered":"Jay Suites to Open 10th Location at Record Price in Chelsea"},"content":{"rendered":"

Luxury coworking, virtual and on-demand office provider Jay Suites announced the latest addition to its growing portfolio \u2014 a 60,000-square-foot lease in Chelsea that will serve as the company\u2019s 10th<\/sup> location.<\/p>\n

What\u2019s more, Jay Suites Cofounder said the price of the new lease was an actual bargain.<\/p>\n

As per Juda Srour\u2019s statement, the lease with the Weinmann family at 159 West 25th Street was signed at the bargain price of $30 per square foot. Recent reports by CBRE put the average Midtown South asking rent during the third quarter of this year at $82.50, making Jay Suites\u2019 new lease price even more impressive.<\/p>\n

Srour, who mentioned that he had been actively hunting bargains in the market, said:<\/p>\n

\u201cWe only take deals that are very aggressive. We\u2019re finding rates that you\u2019re never going to see again. We\u2019re talking below 2009 and 2010 [prices].\u201d<\/p>\n

The company\u2019s 10th<\/sup> location will be split into two, as a way to include both the Jay Suites coworking business and the Jay Conference flag of events space. Not only that, but the space will also benefit from the rooftop area, a recreational perk for all users of the future business spot.<\/p>\n

This new lease comes after two other event spaces signed by Jay Suites at the beginning of this year: a lease for an events space in Bryant Park and a coworking space located at the Trump Organization\u2019s 40 Wall Street<\/a>. are signs of the company\u2019s ongoing expansion.<\/p>\n

Of course, the pandemic negatively influenced the demand for flexible workspaces and events. Even giant operators in the market announced losses in profitability, as well as their intent to close a relatively large number of such spaces to curb costs. However, it appears as though Jay Suites is on an upward trajectory, building a hefty portfolio of commercial real estate that\u2019s often based upon low-cost leases and smart investments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Luxury coworking, virtual and on-demand office provider Jay Suites announced the latest addition to its growing portfolio \u2014 a 60,000-square-foot lease in Chelsea that will serve as the company\u2019s 10th location. What\u2019s more, Jay Suites Cofounder said the price of the new lease was an actual bargain. As per Juda Srour\u2019s statement, the lease with<\/p>\n","protected":false},"author":2470,"featured_media":368,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-367","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nJay Suites to Open 10th Location at Record Price in Chelsea<\/title>\n<meta name=\"description\" content=\"Office provider Jay Suites announced the latest addition to its growing portfolio \u2014 a 60,000-square-foot lease in Chelsea\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.coworkingcafe.com\/blog\/jay-suites-to-open-10th-location-at-record-price-in-chelsea\/\" \/>\n<meta property=\"og:locale\" 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