In NYC and LA, underutilized common spaces in luxury towers are hosting corporate and other non-resident events — a win-win that lets buildings offset costs.
, was in search of a locale last year to celebrate her publication’s print debut, she knew she needed a space that would resonate with her guests.
The cocktail party for 75 featured rainbow-colored florals, along with a wall splashed with “Love Wins” and “Equality.” In addition to Chelsea Industrial, the possibilities include Herald Square Jewel in Herald Towers on West 34th Street, itself a 4,000-square-foot venue with Empire State Building views. A terrace, card and pool tables, a formal dining area and four seats from the old Yankee Stadium are other dazzling highlights for event attendees there.
So far, Blace has been a hit. It saw more than $5 million in revenue in 2022 and is expected to rake in more than double that amount this year, according to Robinson. Rental fees, which Blace shares with the building, start at $5,000 for a half day and go up from there. Clients range from deep-pocketed New Yorkers throwing social shindigs to global enterprises such as Coca-Cola, BMW, JPMorgan and Grand Marnier hosting corporate events.
“The people who rent out these spaces get a stylish setting to impress their guests, and developers get more money and free marketing. It’s a win-win,” she said.
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