![]() ![]() Last year, the New York-based company pulled out of its initial public offering and saw its valuation drop from $47 billion to about $5 billion. Many of the lagging leasing figures in co-working stem from embattled WeWork. Throughout the pandemic, it’s been more difficult.” “If it was a multi-tenant property, it was possible, but if it was a single co-working tenant space it was very difficult and expensive. “It was hard to finance office properties where co-working took up a significant percentage of space,” Eyzenberg said. Lending to buildings in which co-working is a tenant is also difficult, according to David Eyzenberg of Eyzenberg & Company, who arranges financing for commercial real estate projects. Leasing activity for co-working, also known as flexible space, dropped 50 percent globally in the fourth quarter of 2019 compared to the previous year, according to JLL. “I am very comfortable having my daughter there,” West said. Suzanne West, a longtime user of Quest’s New York and Miami locations, is considering leasing a pod for her stepdaughter, who is an incoming freshman at Miami Beach Senior High. Quest also has two offices in New York City. In South Florida, Quest has two locations on Brickell Avenue and in Coral Gables, and one each in Doral, Fort Lauderdale, Plantation, Boca Raton and West Palm Beach. The pods can include up to six students per pod, and are primarily geared toward high school or middle school students, Kozelouzek said. For nonmembers, the pods start at $400 per child per month. The Quest Micro-Class Pods start at $200 per child per month, for children of Quest members. “There is a need for people to get out of their homes.” We can bring companies together of all different sizes,” said Laura Kozelouzek, CEO of Quest Workspaces. ![]() “It’s no different than what we do in terms of managing our space. Students will be dropped off in the morning to go to their pods, to be accompanied by a tutor, teacher, parent or supervisor. Co-working operators like Quest, Industrious and WeWork are looking for ways to fill that space.įor Quest, the pods will function essentially as small classrooms. ![]()
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