Knotel’s Five New Leases Total 100,000 SF in NYC

NEW YORK CITY—Knotel is taking Manhattan as a choice destinations for setting up flexible workspace offices. The company signed leases at five new locations, totaling 99,486 square feet. Just last week, they announced inking deals for four office leases amounting to almost 80,000 square feet—also all in Manhattan. Knotel has declined to provide lease terms regarding price or length of leases. 

Knotel’s New York City portfolio has now reached over two million square feet, with most of its growth in Midtown South and Lower Manhattan.

In the largest of its most recent transaction, Knotel signed a 37,868 square-foot lease at OTB’s 220 W. 19th St. in Chelsea. Knotel will occupy the third through fifth floors, plus the ninth floor. Elie Reiss of Skylight Leasing represented Knotel in the transaction, while the landlord was represented by PD Properties LLC.

Knotel also signed a 30,334 square-foot lease with TriBeCa Associates for the ninth and tenth floors at 30 Broad St. in the Financial District. Reiss of Skylight Leasing represented Knotel. Newmark Knight Frank’s Andrew Peretz, Hal Stein and David Malawer represented the landlord.

In addition, the flexible workspace provider completed three transactions for smaller spaces in Midtown South. Knotel is renting 12,425 square feet on the seventh floor at 399 Lafayette St. The historic property is also known as the De Vinne Press Building. NKF’s Michael Morris and Greg DiGioia represented Knotel, while Barrett Stern also of NKF represented the landlord, Fisher Realty/Astor Wines.

Knotel also signed an 11,498 square-foot lease for the second floor at 22 W. 21st St. Reiss with Skylight Leasing represented Knotel. Jonathan Anapol and Chris Bellino of Prime Manhattan Realty represented the landlord, Condo Structure.

In the fifth deal, Knotel agreed to rent a 7,361 square-foot lease on the sixth floor at Justin Management’s 115 W. 30th St. No brokers were involved in the transaction.

“We are continuously evaluating opportunities to expand our footprint based on factors like client demand, owner relationships and market conditions,” says Eugene Lee, global head of real estate & business development at Knotel. He notes the company has grown to more than 80 locations in New York and has many other deals in the pipeline.

Last week, Knotel announced its scooping up of four other office spaces, totaling 78,780 square feet in Manhattan.

In the largest transaction of this batch of leases, Knotel agreed to rent 51,000 square feet at the Rosen family’s 27 W. 23rd St. The deal encompasses the building’s entire second and third floors. Reiss at Skylight Leasing represented Knotel, while Olmstead’s Danny Breiman represented the landlord.

Knotel inked deals for 21,736 square feet, with 20,834 square feet at Bonafide Estate’s 41 W. 25th St. and 10,912 square feet at 45 W. 25th St. in NoMad. Neil King, Alexander Golod and Georgina Cook of CBRE represented the landlord, and again, Reiss of Skylight Leasing represented Knotel.

Finally, Knotel leased 6,044 square feet at Savanna’s 31 W. 27th St., located between Sixth Avenue and Broadway. Savanna was represented in the transaction by CBRE’s Patrice Meagher, Paul Amrich, Neil King and Meghan Allen. Colliers International’s Michael Cohen, John Pavone and Jessica Verde represented Knotel.

The WeWork competitor that designs, builds and operates custom workspaces has quickly expanded nationally and internationally, with additional locations in San Francisco, London, Los Angeles, Berlin and Brazil. Founded in 2016, Knotel currently operates with more than two million square feet across more than 100 locations, with plans for continued expansion. Founded in 2010, WeWork manages over 10 million square feet of office space worldwide. A WeWork spokesperson tells GlobeSt.com that they now occupying over 7 million square feet in Manhattan, and is the borough’s largest private office tenant.