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Tech incubator and seed fund 500 Startups is building its presence in the Big Apple with a new coworking space for entrepreneurs and  portfolio companies.

The news was announced today on Twitter by Shai Goldman, a New York-based venture partner at 500 Startups. An application form is already available for entrepreneurs, although the desks are not available until next month. To apply, you’ll need to be bootstrapped, seed or angel funded, or have raised a first round of institutional funding.

According to 500 Startups, spots are reserved for portfolio companies, but the office also has space for startups in the community. This coworking space is in the Flatiron district, where many startups and tech companies are settling. As TheNextWeb’s Harrison Weber points out, it’s a stone’s throw from coworking space and startup hub, General Assembly.

Interested in renting out a desk? It will set you back $500 per person for the month, and the place has room for a total of 40 people. Rent is reasonable, considering that it’s in the heart of Manhattan, but the real benefit is access to a network of fellow entrepreneurs and potential advisers. 500 Startups was launched in 2010 by prolific and outspoken investor Dave McClure (pictured above).

To check out the space, watch the video below.

[youtube http://www.youtube.com/watch?v=AVr1zJFt8R8]

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