Convene To Open Its Largest Location Yet On Fifth Avenue
Convene, the shared conferencing company that has positioned itself as a landlord-friendly amenity rather than a traditional coworking tenant, has just signed its biggest deal ever.
The company signed a lease to open a 116K SF facility at 530 Fifth Ave. with landlord RXR Realty, the fourth location Convene will open in an RXR building. Its third, at 75 Rockefeller Center, officially opened Wednesday.
Convene will bring Convene Workspace, its flexible office concept in the mold of Knotel and WeWork's new product, HQ By WeWork, to 530 Fifth, its first location of the concept in Midtown. Convene WorkPlace is intended for small-to-midsize companies with between 10 and 100 employees; its first two locations are in Lower Manhattan.
Convene has raised $260M in venture funding to date, including from RXR. Brookfield is the largest shareholder in the company, which has locations in Washington, D.C., Boston, Philadelphia and Los Angeles after its founding in New York.
"Convene’s hospitality-focused capabilities perfectly complement RXR’s forward-thinking approach to building management,” Convene CEO and co-founder Ryan Simonetti said in a statement. “Everything we’ve created together, from superior meeting rooms, flexible work spaces and user-friendly technology, has been curated to deliver an elevated workplace experience to RXR building tenants and the most forward-thinking organizations.”
CORRECTION, SEPT. 13, 11:45 A.M. ET: Convene's lease at 530 Fifth Ave. includes a Convene WorkPlace and is its fourth location in an RXR building. A previous version of this story misstated the name of Convene's flexible office concept and how many leases the company has signed with RXR. This story has been updated.
