3rd Ward
Blesso Properties purchased a 50% interest in 3rd Ward, after its founding in 2007, and serves as the company’s real-estate and institutional partner.
3rd Ward is an urban-membership space offering comprehensive and dynamic workspaces for artists, entrepreneurs and other creative professionals. It serves its members and the community at large by providing resources, studio and office space as well as critical back-end infrastructure and services.
The artists and creative professionals served by 3rd Ward often do not have the sufficient scale in their businesses to support the rent on studio space or purchasing of state-of-the-art-equipment. 3rd Ward aims to solve this problem by providing shared access to industry-specific work spaces through a monthly membership-fee structure. 3rd Ward also augments its value proposition by providing continuing-education classes, networking and events that enhance the user experience and create sustainable appeal for the long term.
The mission of the business is to reach and retain potential members by providing unique office solutions and industry-specific incubators, along with educational, networking & social events. Currently, 3rd Ward has over 700 paying members in its Brooklyn location and plans for expansion are under consideration. The company’s success is a result of serving a unique unmet need and transforming low-value industrial real estate to higher and better uses.