U.S. Coworking Operator Convene Acquires Bankrupt Coworking Club NeueHouse Brand
The US based coworking and event spaces operator Convene has acquired the private coworking and membership brand NeueHouse following bankruptcy proceedings. The transaction includes the brand’s intellectual property and the ongoing operations of the NeueHouse Madison Square location in New York City.
The acquisition was completed through a court-approved Asset Purchase Agreement after NeueHouse filed for Chapter 7 bankruptcy in September 2025. Financial terms of the deal were not disclosed. There are no current plans to reopen NeueHouse’s former locations in Los Angeles.
NeueHouse was founded in 2011. The company positioned itself as a private coworking and membership club catering primarily to professionals in creative industries such as film, fashion, design, publishing, and the arts. Membership was invitation-only, with annual fees reaching $ 3,000, depending on access level.
The company opened its first workspace in New York City in 2013, located near Madison Square. The eight-story building included event spaces, an 80-seat screening room, a podcast studio, membership lounges, private office suites, and a members-only restaurant and bar.
NeueHouse later expanded to Los Angeles, opening locations in Hollywood, the Bradbury Building in Downtown Los Angeles, and Venice Beach. The company raised US$25 million in venture funding in 2015 and an additional US$30 million in 2018, accompanied by a leadership change.
Despite hosting cultural events, film premieres, and private gatherings, NeueHouse struggled financially. By March 2025, NeueHouse’s total debt had ballooned to $83.7 million, according to internal financial documents. At this point, the company was teetering with heavy “legacy” debts and unpaid rents. Former executives cited high lease costs, unsuccessful restaurant operations, and expansion-related spending as contributing factors. In early September 2025, the company announced it would cease operations due to what it described as “legacy liabilities.”
Convene Hospitality Group is a global hospitality and workspace operator that designs and manages premium meeting venues, event spaces, and flexible offices. Its portfolio includes large-scale event venues, conference facilities, private office suites, and communal workspaces, with locations serving corporate, institutional, and professional clients.
CHG has been operating the NeueHouse Madison Square location for several months prior to the acquisition. According to CHG CEO Ryan Simonetti, the company intends to continue operating the New York site and maintain the brand’s community-oriented positioning. The acquisition allows CHG to integrate NeueHouse into its broader hospitality and flexible workspace platform.
“We’ve long been fans of the NeueHouse brand and wanted to preserve and nurture the incredible community it has cultivated,” says Ryan Simonetti.
Pic source: Wikipedia
