Alright – so today we’ve got the honor of introducing you to Eduard Monteagudo. We think you’ll enjoy our conversation, we’ve shared it below.

Alright, Eduard thanks for taking the time to share your stories and insights with us today. Let’s start with the story of your mission. What should we know?

The origin of Cocoon Flex Spaces goes all the way back to my final thesis at design school in Barcelona. The thesis was: How can we use the existing infrastructure of our cities to produce win-win scenarios for all parties involved? In doing this, it would involve maximizing the community and building potential to make them more equal, and provide easier access to design, culture, and of course, nature. As is the case with most things, the dream of Cocoon had to be put on hold for a period of time, while I established myself and got a good amount of work experience. I worked for 10 years for design studios, a few of which were in New York City, and in 2017, I felt that it was time to revisit my idea and bring it to life.
The first iteration of the concept was an incubator space in Greenpoint, which I made into a design lab. It was a place that in collaboration with other designers was constantly evolving and getting redesigned. After redesigning the space a few times, I looked into a way of monetizing it, after all the space looked really good and had a nice vibe to it. This is when I got the idea of renting it out for events, which is very similar but slightly divergent to my original thesis. We hosted small private functions and some meetings, and eventually partnered with an App to get more bookings.
I decided that this was the moment to stop working at design firms and put all of my energy into developing this idea which was already gaining traction. Of course, one space was not enough, and I realized that we could expand the existing model to help owners monetize their residential and commercial spaces. During this time, I came up with the five categories of monetization: media productions, private events, corporate events, offsite meetings and showrooms. With this base, I was able to pitch a friend on the concept of Cocoon Flex Spaces, and we decided on a limited agreement of six months. The idea worked out well, and brought in more revenue than my friend was expecting, which led him to recommend me to two of his friends. These became our second and third “casas,” as we call them. The word “Casa” means ‘house’ in Spanish, and we use that as a way to connect people to the spaces that they are renting. There is a certain unique feel about inviting people into a home that makes them feel at ease and adds to the charm of it. Each of our Casas have a unique name that is derived from the appearance or location of the house. For example, Casa Escondida (meaning hidden) is called that because it is a hidden oasis in Brooklyn, while Casa Maxima is named as it has great design and is designed in a maximalist style, and so forth.
So, from a university thesis all the way to New York City, it sometimes seems like a dream, but it just shows what hard work and dedication to an idea can do.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.

My journey started in Barcelona, at a young age, as my father owned a contracting firm that first exposed me to design and architecture. Barcelona itself is such a unique city, in terms of architecture, and my father’s network of connections really opened my eyes to the whole world. I eventually went to design school, but also have a business administrator degree, both of which have been very important to building Cocoon. For those who have been lucky enough to visit Barcelona, you will be aware of the beautiful modernist buildings that are present throughout the city. These buildings and concepts are what first fostered in me my love for design.
What sets Cocoon apart is multiple things. We do not offer overnight stays, as Cocoon hosts events in unique spaces. Each casa is a unique property that lends itself to different types of functions and events. Each property is uniquely designed and has a different feel to it, which allows for special events.
We view Cocoon as a social project, as well as a revenue source for the owners. What I mean by this is that the Casas that are in our portfolio are some of the most unique and historical properties in New York City, and we give everyone the chance to experience them. Cocoon is active on social media, trying to connect people to these properties, and change the real estate landscape. It is really a social architecture project that helps to build community which is what my original university thesis was.
What we also provide is the mitigation of risk in property rentals. With AirBnb rentals, you are on the hook for all damages and cleaning expenses. However, with Cocoon, we offer a full service protection plan, which starts with insurance and branches out to our Casa Managers. Casa Managers is a position that we started to help ensure the safety of each property, as well as the success of the event. They arrive prior to the event set up and stay throughout the duration of each event. This helps to limit the risk (we have 0% of items stolen and less than 3% damages to the properties themselves), and they work in tandem with comprehensive insurance coverage to keep the owners minds at ease.
Finally, we offer unique experiences and have a full Concierge service. Our SuperConcierge, as we call it, helps to facilitate the smooth running of events and help with all areas that a renter might need. This can range from food service to DJ to helping to create a runway for fashion shows. We do not just rent out a property, we provide the full experience from beginning to end. Making it smoother on those that are hosting the event makes us stand out from the competition. Cocoon has spent many years curating relationships with people in different industries in order to help facilitate the ease of the next party or corporate event you throw.
So really it is a combination of all of these that sets us apart. The owners of the properties know that they are in good hands, and those renting are ensured of an experience that they will remember forever.
I think at the heart of it all is my original thesis–which is partnered with trying to give back to the community and revolutionize the real estate culture. For too long, there have been the people with access to these stunning properties, and those who only dreamed of them. At Cocoon, we bring these two groups together to create an experience that is positive for all parties involved.

Let’s talk about resilience next – do you have a story you can share with us?

So, at the beginning of Cocoon in its incubator stage, I had the property I previously discussed in Greenpoint. It was a two floor rooftop property, which I was slowly making into the event space. Of course at the time I was also working my full time job, but for four years, I worked hard on the incubator and had a great relationship with the landlords. When I realized that the developed incubator could eventually turn into what is now Cocoon, I went to the landlords and signed a 10 year lease. When I signed the lease, they were thrilled. I let them know what the plans were for the project and they were happy with the plans. At the time, there were only two tenants in the building, myself and an underground bar. After six months, the bar moved out and the landlords started to pressure me to leave the building. I am still not sure if they had an offer to buy the building or if they just wanted out of my long term lease, but it seemed like I was just getting started when I hit this stumbling point.
Getting pushed out of the 10 year lease was a real wake up call. It set me back financially, putting me in debt, but also it made me rethink the original plan of using rental properties and trying to monetize the space. This is when I shifted the idea to use properties that were already owned by other people, yet underutilized, as a revenue stream for the owners. I didn’t come from money, nor did I have any investment which meant that I couldn’t constantly deal with being moved out of commercial rental spaces like what happened in Greenpoint. I was lucky at this moment to get my first property client, a friend of mine who was looking to monetize his space.
When I started to work with my one friend on that short six month trial period, it was a way for me to see if the new model I was envisioning for Cocoon would really work, it did, and it quickly led to expansion. This was a magical period in my life where I went from having to rethink my whole concept, and ending up in debt, to finding an avenue and wiping away that debt in 18 months. In a way, I am thankful for getting pushed out of that space in Greenpoint, as it was the push that I needed to achieve my dream.

We often hear about learning lessons – but just as important is unlearning lessons. Have you ever had to unlearn a lesson?

Quite honestly, I had to learn how to manage people. After I got moved out of the place in Greenpoint and Cocoon took off, we expanded very quickly. All of a sudden, I had a team of 25 people that were working with me either full time or as contractors. Having watched my dad manage his contracting business in Spain, I thought I had it all sorted out. I came at it with an old school perspective at first; I am the business owner and the employees are here to serve me. Well that doesn’t work so well, and it’s not the way the world is anymore. I quickly learned that. My biggest take away was learning to be a mentor as a manager. Telling people what to do is not inspiring and won’t promote hard work, however mentoring people and encouraging them will.
So now, Cocoon is a company that is based on individual freedom, where I am at the helm to mentor and guide them, as opposed to micromanaging everything. Of course, there is a structure in place that ensures that work is done, but now we work more smoothly and there is a level of happiness with the employees. Each Monday we have a “Weekly Priority Touch Base,” this is a meeting where we discuss weekly goals and focus and how it pertains to our overall goals. We build a comprehensive goal structure where we go over individual paths to hitting quarterly goals and how they can be achieved each week through the projects individuals are working on. I choose the European style of vacation for my employees, not limiting them to the amount of days they can take. I believe that happy employees are productive employees, and let them set their goals and time off. It has been a big transition for me from where I started as a business manager, but I believe that we have built a structure that is positive and productive.

Contact Info:

• Website: https://cocoonflexspaces.com/
• Instagram: https://www.instagram.com/cocoonflexspaces/
• Linkedin: https://www.linkedin.com/company/cocoonflexspaces

Image Credits

Photos by Crystal Wood