New York City’s office market is one of the most dynamic in the world, and the way companies occupy space has changed dramatically over the last few years. With hybrid work the norm and businesses wanting shorter commitments, the city’s seen rapid growth in flexible workplace solutions alongside its long-established traditional lease market.
If you’re looking to understand the difference between a traditional office lease, coworking space, flexible offices, serviced offices, and managed workspace in NYC — this guide breaks them down clearly.
- Traditional office leases (long-term leases)
- Coworking spaces
- Serviced offices
- Flexible office space (landlord-provided flex/plug-and-play suites)
- Managed offices
Traditional office leases (long-term leases)
A traditional office lease in NYC is the classic way businesses have occupied space for decades. You sign a long-term lease (typically 5 to 10+ years) and take full responsibility for the design, build-out, furnishing, and daily operation of the space.
Key features
- Long commitments: Usually 5–15 years.
- Upfront investment: Fit-out costs, IT infrastructure, furniture, and security deposits.
- Operational responsibility: Cleaning, maintenance, utilities, insurance all handled by the tenant.
- Customisation: Full control over branding, layout, and design.
- Cost efficiency at scale: Better suited to large teams (often 50+ people).
Where it’s common in NYC
- Midtown: Corporate HQs, law firms, finance.
- Financial District: Large-scale enterprise tenants.
- Hudson Yards: Newer, premium towers for major tenants.
Traditional leases work well for established companies that can commit to long-term plans and want full control.
Coworking spaces
Coworking has exploded across NYC, offering freelancers, startups, and hybrid teams a plug-and-play office environment with short commitments (sometimes month-to-month).
Key features
- Flexible terms: Month-to-month or short rolling contracts.
- Shared amenities: Lounges, meeting rooms, phone booths, cafés, community events.
- Variety of memberships: Hot desks, dedicated desks, day passes.
- Community and networking: Ideal for early-stage companies and remote workers.
Major NYC operators
A number of well-known coworking operators provide short-term, plug-and-play office solutions across the city, offering a variety of desk and private office options to suit different team sizes and needs:
Popular neighbourhood clusters
- Flatiron
- SoHo/Nolita
- Dumbo
- Williamsburg
- Union Square
- Financial District
Coworking suits anyone who needs maximum flexibility and doesn’t require a private branded office.
Serviced offices
Serviced offices are private office suites within a shared workspace environment, usually offered by coworking operators, where everything’s included in the price.
Key features
- Private lockable office for your team.
- Fully furnished and ready to move into.
- One monthly bill including cleaning, internet, utilities, reception staff, and maintenance.
- Access to shared meeting rooms and breakout areas.
- Shorter commitments: Often 1–12 months.
Who it suits
- Small-to-mid teams (5–50 employees).
- Companies that want privacy but not the hassle of running an office.
Serviced offices are essentially the “private office” product inside coworking buildings.
Flexible office space (landlord-provided flex/plug-and-play suites)
Flexible office space in NYC is different from coworking or serviced. Typically a private suite run by the landlord, fully fitted and ready to occupy without a long lease. Think of it as a midpoint between a traditional lease and a serviced office.
Key features
- Shorter contracts: Usually 1–3 years.
- Pre-built, turnkey suites: Furniture, cabling, and fit-out included.
- More privacy: Your own floor or suite, not shared with other companies.
- Fewer services than coworking: No community events, café, etc., but higher autonomy.
Major NYC landlords offering flex products
Several landlords in NYC now offer fully fitted flexible office suites, combining the autonomy of a private office with shorter-term contracts and minimal setup requirements — including:
- Tishman Speyer – Studio
- Silverstein – Inspire
- Durst – DurstFlex
- Hines – Hines²
- SL Green – Green Desk / Flex by SLG
Who it suits
- Growing companies (10–100 people)
- Those needing their own identity without a long-term lease
Flexible office space is one of the fastest-growing categories in NYC.
Managed offices
Managed offices combine the privacy of a traditional lease with the ease of serviced space. You get a fully customised, private office designed specifically for your team, but someone else manages the entire thing for you.
Key features
- Custom-designed and branded to your company.
- Flexible terms: Usually 1–3 years.
- All-inclusive pricing: Fit-out, furniture, IT, utilities, cleaning, and maintenance.
- Scalable: Easy to expand into more space.
- Operational support: One provider handles everything end-to-end.
Major NYC managed workspace providers
Managed office spaces are offered by a range of providers who handle fit-out, maintenance, and daily operations, giving teams a fully customised workspace without the administrative overhead:
- Industrious
- WeWork Enterprise
- Knotel
- Hana (CBRE) / Flex by JLL
- Upflex (partners with landlords)
Who it suits
- Companies scaling quickly (20–300 employees).
- Businesses needing branded space without capital expenditure.
- Teams who want to stay focused on growth — not office management.
Managed offices are effectively the outsourced version of a private leased office.
Which option makes sense for your business?
| Your Business Need | The Best Fit |
|---|---|
| Max flexibility, min commitment | Coworking |
| Private office, no operations hassle | Serviced Office |
| Private, turnkey space with more autonomy | Flexible Office |
| Branded, custom space without the capex | Managed Office |
| Full control and long-term stability | Traditional Lease |
Find a flexible office in New York (and beyond) with Hubble
Hubble helps thousands of businesses find workspace that their teams love every year. Whether you’re seeking a traditional office or a more flexible solution, we’ll assist you every step of the way.
Why opt for Hubble?
- Expert guidance – Our workspace specialists oversee the entire process of finding your new office, so you don’t have to.
- 100% market coverage – With Hubble, you gain access to every available workspace in the flexible office market. Simplify your search by exploring all options in one place.
- Significant savings – Benefit from average discounts of 15% as our experts negotiate the best prices on your behalf.
