It’s been announced that The Wing, a female co-working company, has closed all of its locations.
While The Wing leased a space at 380 Columbus Ave (corner of 78th Street) back in 2020, it never actually opened, confirmed Compass broker and vice chairman Adelaide Polsinelli, who listed the 12,000 square foot retail condo (now in contract) for $9,750,000. The new owner will be looking at a monthly tax bill of $25,833 and $6,013 in monthly common charges.
While we don’t yet know who is in contract for the space, Polsinelli says “The trend I am seeing now in real estate and especially friendly neighborhoods like the Upper West Side, is that non profits and users are out in the market looking to buy their HQ or space for their business.” She’s also been hired to sell 236 West 72nd Street, the building which the Metropolitan New York Baptist Association has occupied for decades. Most of the interest she’s gotten has been from other non-profits.
After an almost six-year-run, The Wing emailed its members the news, citing the “pandemic and increasing global economic challenges” as the catalyst of its closure.
“Members of the Wing will now be granted access to any co-working space owned by office-space company IWG PLC, IWG -3.57%? which purchased a majority stake in the Wing for an undisclosed amount in February 2021,” reports the Wall Street Journal.
Founded by Audrey Gelman and Lauren Kassan in 2016, The Wing’s first location was in Flatiron. It expanded to open locations in Soho and Bryant Park, while also opening two locations in California and one in Chicago.
“…Joining the Wing cost $2,500 to $3,000 a year (a fee that did not cover grain bowls, pressed juice and gluten-free cookies),” wrote the New York Times. Regardless, the company reportedly peaked at 12,000 members (with a 9,000 member waitlist).
The space at 380 Columbus Avenue was formerly home to Ocean Grill, 78 Below (the downstairs bar), and Gazala’s, (which is now located at 447 Amsterdam Ave).
We’ll let you know once we become aware of the new tenant.