Knotel Expands in Midtown, FiDi, Chelsea
By Rebecca Baird-Remba April 9, 2019 5:05 pm
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As Knotel, the flexible workspace provider, announced that it leased 1 million square feet in the first quarter of 2019, the company revealed two new sizable outposts at 88 Pine Street in the Financial District and 1407 Broadway in Times Square.
The company leased 43,520 square feet on the fourth and ninth floors of Orient Overseas Associates’ 88 Pine Street, according to a Knotel press release.
Elie Reiss of Skylight Leasing represented Knotel in the transaction, and it wasn’t clear who handled the deal for the landlord. Reiss declined to comment on the deal. A spokeswoman for Knotel declined to discuss the terms or the asking rents.
Knotel also inked a 27,404-square-foot sublease for the 25th and 26th floors of 1407 Broadway, between West 38th and West 39th Streets in Midtown. Michael Cohen and John Pavone of Colliers (CIGI) International represented Knotel. Jon Wheless and Chris Perry of Aquila Commercial handled the transaction for the sublandlord, GoDaddy, along with Lee NYC‘s Dennis Someck and Justin Myers. Neither brokerage immediately responded to requests for comment. Recent asking rents in the building have ranged from $54 to $72 a square foot, according to CoStar Group.
Knotel inked a direct lease for 28,405 square feet in the Shorenstein Properties-owned building in January, as Commercial Observer reported.
“Adding 1 million square feet globally in the first quarter is a significant milestone for our business here in New York and around the world,” Amol Sarva, Knotel’s CEO and co-founder, said in prepared remarks. “As the industry leader in flexible office, we have built a machine that quickly and efficiently adds great locations in major markets around the world to serve our clients, and this growth will continue to accelerate.”
The company also signed a 9,979-square-foot deal for the fourth floor of Winter Properties’ 26 West 17th Street, where it was represented by Doug Regal, Jamie Katcher and Sebastian Infante of Cushman & Wakefield. Regal declined to comment via a spokeswoman.
In addition, the three-year-old workspace firm announced a 7,500-square-foot lease on the fourth, seventh and eighth floors at Moinian Group’s 29 West 17th Street. Reiss of Skylight Leasing once again represented Knotel.
Finally, the littlest deal of the bunch was a 5,500-square-foot sublease transaction with Flipboard at 28 West 25th Street. Knotel handled that deal in-house. The three smallest deals didn’t involve landlord brokers, a Knotel spokeswoman said.
