Industrious is staking out a bigger perch in NoMad, locking in the 18th and 19th floors at 386 Park Avenue South for a new two-level outpost. The buildout will cover about 23,000 square feet and is being carved up for roughly 160 private office seats plus about 25 flexible workstations, extending the flex operator's Manhattan reach and adding to a steady drumbeat of recent flex-space deals in Midtown South.
According to Crain's New York Business, the Park Avenue South location will be Industrious's 35th site in New York City and will span roughly 23,000 square feet across the two floors. The outlet reports that the firm is planning about 160 office seats and another 25 flexible workstations, and notes that Industrious declined to say how long the lease runs. Crain's New York Business also cites market data showing the building is close to fully occupied, with asking rents in the surrounding blocks sitting in the low $70s per square foot.
Deal Team And Landlord
Cushman & Wakefield represented Industrious in the deal, with a team led by Justin Halpern, while Newmark handled negotiations on behalf of building owner HSR Corp. Halpern's Cushman & Wakefield bio highlights his focus on Midtown assignments. The landlord's leasing contact is listed on the building's property page, which shows HSR Corp marketing full-floor pre-builts at 386 Park Avenue South.
Building Snapshot
The 20-story tower is home to a mix of tech and creative outfits and, per Crain's New York Business, is about 95 percent leased, with an average asking rent near $72 per square foot. Market records list tenants including Primary Ventures, Sigma Computing and Box. Current commercial listings promote the Industrious space alongside member amenities, and the property listing offers additional detail on what is on tap at the Park Avenue South address.
NoMad And The Comeback Of Flex Space
The Park Avenue South lease is one more data point in a wave of flexible-office signings across Manhattan, where operators are increasingly taking longer term, full-floor deals instead of smaller footprints. Industry coverage notes that Industrious now runs more than 250 locations globally, a scale that helps explain why landlords are leaning into turnkey flex partners. In the immediate neighborhood, recent reporting on Industrious's full-floor commitment at 902 Broadway has been cited as part of a broader resurgence in coworking demand in Midtown South.
What Members Can Expect
On its website, Industrious pitches its spaces as hospitality-driven offices that come with staffed front desks, conference rooms and a slate of member programming. Local listings for the Park Avenue South outpost advertise 24/7 access, on-site staff, bike storage and daily breakfast and snacks, all tailored to hybrid teams that want a plug-and-play setup rather than building from scratch. For smaller companies and startups, the new location adds another central option in NoMad's increasingly competitive office scene.
There is no opening date on the books yet, and Industrious is keeping the lease length under wraps. When it does launch, the Park Avenue South outpost will bring more hospitality-focused seats to NoMad just as owners continue to repackage pre-built floors to capture hybrid-first tenants.
