Knotel Signs Four New Leases in Manhattan Totaling 76K SF
The race between flexspace providers is heating up.
Just days after HQ by WeWork announced four new leases in Manhattan, primarily in Midtown South, flexible office provider Knotel announced four new leases in Manhattan, focused in the same part of the city, The Real Deal first reported.
Knotel’s new locations total 76,412 square feet with the largest of the four at the New School’s 36 West 14th Street in Union Square, where the company took 36,600 square feet, followed by two floors at AION Partners’ 11 East 44th Street near Grand Central Terminal totaling 24,660 square feet. Two more locations are in the Flatiron District, a 10,722-square-foot space at Skyway Development Group’s 30 West 21st Street, across two floors, and 5,430 square feet at Condo Structure’s 22 West 21st Street.
Michael Morris and Greg DiGioia of Newmark Knight Frank represented Knotel in the negotiations, while Jeffrey Roseman and Billy Cohen of NKF represented the New School, and William Cohen and JD Cohen of NKF represented AION Partners and Skyway Development Group.
Knotel declined to comment on asking rents and lease terms.
The leases bring the total of Knotel locations in Midtown South to 37, spanning 600,000 square feet, according to the release. Knotel is the second-largest flexspace company in Manhattan after WeWork, according to Cushman & Wakefield, but surpasses the larger coworking company in number of locations as of September 2018, according to the Financial Times.
Last week, Knotel signed a 10-year deal for 60,323 square feet at RXR Realty’s 61 Broadway in the Financial District, Commercial Observer reported.