Friday December 27, 2024

Convene Expands in Hudson Yards with Its Largest New York Location Yet

Commercial Real Estate | September 17, 2024

Convene, a leader in upscale event hosting and flexible workspaces, is set to open its largest New York location at Manhattan’s Hudson Yards, one of the city’s most prestigious mixed-use developments. The new venue will occupy 72,000 square feet on the 24th floor of 30 Hudson Yards, along with an additional 2,770 square feet on the ground floor dedicated to a lobby, welcome center, and showroom. Scheduled to open in summer 2025, this expansion highlights Convene’s commitment to providing premium event spaces for corporate clients in New York City and beyond.

A Major Investment in a Prime Location

Convene’s latest venture will accommodate nearly 1,500 guests, making it the largest of the company’s 15 New York locations and 39 global sites. Positioned in one of Manhattan’s most iconic office towers, the new space will offer stunning panoramic views of the skyline and provide ten event spaces, including a grand hall capable of hosting up to 780 guests. This venue will cater primarily to large corporate meetings and events, which make up over 80% of Convene’s portfolio, while coworking remains a smaller segment of their business model.

Brian Holland, Head of Real Estate at Convene, emphasized the strategic importance of the Hudson Yards location, noting that many of Convene’s clients are headquartered or maintain significant operations within the complex. “New York City continues to be a top-performing global destination for corporate meetings and events,” Holland said. “This opportunity allows us to better serve our global client base at one of the city’s iconic mixed-use destinations.”
A Venue Designed for High-Impact Events

The new Convene location at Hudson Yards reflects a broader trend of companies investing in high-quality, flexible event spaces to attract corporate clients. The 30 Hudson Yards tower, developed by Related Companies and Oxford Properties Group, is home to major tenants like Warner Bros. Discovery, Wells Fargo, and KKR, making it a prime spot for hosting influential events. The building, which spans over 2.6 million square feet and more than 100 stories, commands some of the highest rents in Manhattan, with Convene’s asking rent reported at $110 per square foot.

Philippe Visser, President of Related Office Development, praised Convene’s expansion, stating, “Convene’s new flexible venue will enable us to welcome an even wider array of marquee events to Hudson Yards and provide our commercial tenants with world-class meeting and presentation spaces just steps away from their offices.”

A Growing Market for Premium Event Spaces

This expansion comes amid growing demand for premium meeting and event spaces in New York City. Convene recently added a full-floor location in a midtown Manhattan tower to further meet client needs. Ryan Simonetti, Convene’s co-founder and CEO, has noted that the company is profitable, largely driven by the meeting and event side of the business, which includes in-house catering services that enhance the client experience.

Convene’s Hudson Yards location represents a significant investment in one of Manhattan’s most sought-after developments, reinforcing the company’s status as a leader in the flexible event space market. As businesses increasingly prioritize high-quality environments for corporate gatherings, Convene’s latest venue is poised to become a go-to destination for high-impact meetings and events in New York City.