NEW YORK—While the flexible office provider has been busy arranging spaces for other companies and entrepreneurs exceeding 625,000 square feet in new leases globally in 2019, Knotel relocated their own headquarters bringing 240 employees into the former New York Times building.
Over the weekend, Knotel moved into the entire eighth floor, 57,104 square feet at 229 W. 43rd St. They signed a sublease with Engine Group. Knotel declined to disclose additional lease information but according to CoStar average asking rents in the building range from the mid-$60s to mid-$70s per square foot.
The landlord, Columbia Property Trust, had acquired the office portion of the building spanning 481,110 square feet from Blackstone for $516 million in August 2015 according to Real Capital Analytics. Columbia's property spans a portion of the first through the fourth floors, and all of the fifth through the 16th floors.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
