Knotel Boosts Midtown NYC Presence with Two New Locations Totaling 63,697 SF
Agile Workspace Provider Adds 45 West 45th Street and 1407 Broadway to its Roster
New York, (January 31, 2019) — Knotel, the premier agile workspace provider, announced today that it has completed two new leasing transactions totaling 63,697 square feet in the Midtown West submarket.
The most recent leasing activity continues Knotel’s growth across its portfolio, where the company has completed approximately 625,000 square feet of deal volume since the beginning of 2019. In addition to its rapid expansion in Manhattan and its additional growth in San Francisco, the flexible office company also recently expanded in Europe through a strategic acquisition of a majority stake in Paris-based Deskeo, the largest flexible office operator in France.
The newest Knotel locations are:
- a 35,292 square-foot lease at Vanbarton Group’s 45 West 45thStreet. The new space encompasses the entire 3rd, 6th, 7th and 8th floors of the 16-story building, located between Fifth Avenue and Avenue of the Americas. Jared Horowitz and Ben Shapiro of Newmark Knight Frank represented Knotel, while Ethan Silverstein and Greg Kuhlman of Cushman & Wakefield represented building ownership.
- a 28,405 square-foot lease at Shorenstein’s 1407 Broadway. Knotel will occupy multiple office suites in the 43-story, 1.1 million square-foot building, which is situated just south of Times Square between West 38thand West 39th Streets. Bob Foreman of Shorenstein represented the landlord in-house in lease negotiations. There were no outside brokers for Knotel.
Upon closing the transactions, Eugene Lee, global head of real estate & business development at Knotel, commented: "These transactions demonstrate how we have already helped more than fifty owners in NYC provide flexible office solutions to growing companies while reducing vacancy and adding value to their buildings. Our firm continues to grow in the Midtown West submarket, and we expect to add many more locations this year.”
Knotel – which designs, builds and operates custom spaces for companies of 50 employees or more – was founded in New York City in 2016 and caters to established and growing brands. It has quickly expanded nationally and internationally, with additional locations in San Francisco, Los Angeles, London, Berlin, Sao Paulo and Paris. Knotel currently operates more than 100 locations, with plans to expand in existing cities, and into new markets in the U.S. and overseas. Today, over 200 companies call Knotel home.
With over 2 million square feet across more than 100 locations in New York, San Francisco, London, Los Angeles, Berlin, Paris and Brazil, Knotel is transforming the way we work with its Agile HQ™ Platform. Making long-term leases a thing of the past, Knotel designs, builds, and operates custom spaces for enterprises, so that business leaders can focus on building the future. Founded in 2016, Knotel has raised $160 million in funding, and was named a Business Insider Top 50 Startup and New York's Hottest New Workspace Model. Knotel’s member network includes companies like Starbucks, Cheddar, and The Body Shop. Visit knotel.com.