Leases  ·  Office

Knotel Takes 35K SF at 45 West 45th Street


Flexible workplace provider Knotel has started the year off strong by grabbing thousands of square feet around Manhattan including 35,292 square feet in Midtown, landlord Vanbarton Group announced.

Knotel signed a 10-year lease for the entire third, sixth, seventh and eighth floors of the 16-story 45 West 45th Street between Fifth Avenue and Avenue of the Americas, according to a release from Vanbarton Group. A spokeswoman for the landlord did not provide asking rents in the deal, but Commercial Observer reported in 2016 they were in the $60s per square foot.

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Ethan Silverstein and Greg Kuhlman of Cushman & Wakefield (CWK) brokered the deal for the landlord while Newmark (NMRK) Knight Frank’s Jared Horowitz and Ben Shapiro handled it for Knotel. A spokesman for NKF did not respond to a request for comment and a spokeswoman for C&W did not immediately provide a comment.

Knotel—which a C&W report found was the coworking company with the second-largest footprint in Manhattan after WeWork (WE)—has had a busy January. Since the beginning of the year, the company says it leased nearly 136,000 square feet across five buildings in Manhattan.

In the largest of the firm’s 2019 deal, Knotel took 60,323 square feet in RXR Realty’s 61 Broadway, as CO previously reported. Last week, the company signed 76,412 square feet of new leases spread across 36 West 14th Street, 11 East 44th Street, 30 West 21st Street and 22 West 21st Street.

Knotel will join Orangetheory Fitness and restaurant Valerie at the 135,000-square-foot 45 West 45th Street, which Vanbarton bought for $81 million in 2015. The company recently completed a $12 million makeover in the building.