Well known seed fund and accelerator 500 Startups has announced that it is launching a coworking space in New York. The news was shared by Shai Goldman, a venture partner with 500 Startups.

500 Startups has traditionally not focused on the East Coast, but the seed fund has been staffing up in New York and abroad lately and has already secured 35 investments in the Big Apple.

According to 500 Startups, the coworking space is dedicating half of the space to its own portfolio companies, but “will have room for other startups in the community.” Interested startups may be either bootstrapped, seed/angel funded, or series A funded, and will be able to reserve anywhere between 1 and 15 desks at $500 per desk per month (yes, the price is quite fitting). Update: Goldman has detailed that 20 seats will be available for outside companies.

Take a look at the space, located dangerously close to NY’s General Assembly, shown in following video:

The video above calls this a “short term sublease,” so it could just be a temporary home as 500 Startups gets cozier in Manhattan. Nevertheless, the decision to expand in NY should leave quite an impact on the area’s still-emerging tech scene, especially when considering previously established accelerators and coworking spaces like TechStars and WeWorkLabs.

To apply, fill out the form via the link below

➤ 500 Startups coworking NYC

Image credit: Mario Tama / Getty Images