Knotel Nails Down Lease Spanning Six Floors at 211 East 43rd Street
Just yesterday, Commercial Observer reported that Knotel nabbed about 35,000 square feet on West 45th Street. Today comes news that the flexible office space provider has leased space across six floors, spanning 28,873 square feet, at 211 East 43rd Street.
Knotel leased 4,725 square feet on the eighth floor, 3,291 square feet on the 10th floor, 3,965 square feet on the 15th floor, 4,855 square feet on the 16th floor, the entire 18th floor totaling 5,954 square feet and the entire 19th floor totaling 6,083 square feet, Commercial Observer can first report.
The deal is for 10 years, according to a spokeswoman for Avison Young, which represented the landlords of the building between Second and Third Avenues, Alchemy-ABR Investment Partners and Clarion Partners. The asking rents ranged from $60 to $65 per square foot.
Avison Young’s Mitti Liebersohn, John Ryan and Henry Fuentes are the building’s exclusive leasing agents. Colliers (CIGI) International’s Michael Cohen and John Pavone represented Knotel. A Colliers spokesman didn’t immediately provide a comment.
“We are excited to design contemporary efficient space in collaboration with Knotel, which will complement our newest prebuilt offerings as well as our redesigned facade and lobby,” Brian Ray, a co-founder and the managing partner of Alchemy-ABR Investment Partners, said in prepared remarks.
Knotel’s deal, signed last Wednesday, brings the building to 93 percent leased, per Avison Young.
“This transaction is a great example of how Knotel helps owners reduce vacancy quickly, packaging six different spaces into one deal,” Eugene Lee, the global head of real estate and business development at Knotel, said in a statement.
Knotel will start moving into 211 East 43rd Street in the third quarter, with the construction being completed in stages, per the Avison Young spokeswoman.
Tenants in the 25-story, 215,000-square-foot building include Jonesworks, a PR firm; Special Olympics; Syndax Pharmaceuticals; and real estate developer G&S Investors.