Members-only coworking brand Colette is set to open what is already referred to as “the ritziest coworking space in the world” on Fifth Avenue in the heart of New York City. This exclusive workspace is tailored for the most elite and successful of professionals — and the price shows it. Members at Colette New York have to put forth an initial buy-in of $125,000 and pay another annual fee of $36,000. In exchange, they get unique, luxury amenities, breathtaking views of Central Park, the Empire State Building and the Hudson River, as well as access to a community of the most wealthy and successful business entrepreneurs.
The Most High-End of Coworking Experiences
Specifically created for the exceptionally wealthy, Colette has the potential to completely transform how elite professionals operate in our increasingly mobile, digital age. Coworking spaces are becoming more popular than ever, and while businesses like NeueHouse (a high-priced coworking space also based in New York) have demonstrated that high-class workers are willing to pay more for highly regarded coworking spaces, Colette is taking this perspective to an even higher level.
To that end, the elite club might provide more evidence that flexible work isn’t just for startups, freelancers and aspiring entrepreneurs. If Colette proves to be successful, it will demonstrate once more that coworking spaces are a valid choice for companies that don’t necessarily require access to conventional physical offices.
While information surrounding this new and exclusive coworking space is still sparse, Bloomberg reports that Colette was designed by the Safra family and Juan Santa Cruz. The space will be located on the 37th floor of the Manhattan General Motors building.
But What About the Sky-High Fees?
While the average coworking space in New York can vary between $300 and $400 per month and more high-end options can reach $3,500 per month, Colette is taking it a step further , with an initial buy-in of $125,000, on top of the annual dues of $36,000.
Colette will open with a cap of 300 customers, and to further support the notion that coworking spaces aren’t just expenditures, members will have the option to resell their membership to other potential customers at any moment.
So, What Makes It Worth the Price?
While Colette certainly provides some premium amenities, its main objective seems to be much simpler — to provide office space for wealthy individuals who don’t want full-time space in New York. Members here will find 23 private offices with additional seats for visitors, as well as video-conferencing equipment and customizable climate controls. Additionally, each office is set up to provide members with a customized experience, and there’s always someone on hand to welcome patrons and visitors, as well as provide round-the-clock assistance.
More precisely, the personnel at Colette will reportedly undertake secretarial tasks, including calling for automobiles, binding documents, delivering food and beverages, and directing clients to meeting or conference rooms, rather than only offering technological assistance or responding to inquiries about mail forwarding. De facto access to other facilities in the GM building — including the fitness facility, Coco (Colette’s very own restaurant with a distinct, less-expensive member base), and more, are also provided to members of Colette.
Although the office and its necessary buy-in might appear frivolous to the rest of us, this extravagant club helps coworking spaces become even more legitimate.
