Knotel Completes 20,000 SF of Leasing on Eighth Avenue Corridor
Agile Workspace Provider Adds New Locations at 575 and 580 Eighth Avenue
New York, (March 13, 2019) — Knotel, New York City’s premier agile workspace provider, announced today that it has finalized two new leases totaling approximately 20,000 square feet on Eighth Avenue.
In the larger transaction, Knotel has signed an 11,400 square-foot lease at East End Capital’s 580 Eighth Avenue. The new lease encompasses the entire 15th, 16thand 18th floors of the 21-story, 73,000 square-foot office building, which is situated on the east side of Eighth Avenue between West 38th and West 39th Streets.
Across the street, Knotel has also completed an 8,574 square-foot lease at Olmstead Properties’ 575 Eighth Avenue. The flexible office company will operate the entire 20th floor of the 24-story, 244,260 square-foot office property, which is located between West 38th and West 39th Streets.
The deals follow closely on the heels of Knotel’s own recent move to the neighborhood. Last month, the company relocated its corporate headquarters to a 57,000 square-foot space at 229 West 43rd Street, a.k.a the former New York Times building. Its new offices house approximately 250 Knotel employees.
“Today’s transactions are a great example of how demand grows rapidly within the markets where we already have a presence,” said Eugene Lee, global head of real estate & business development at Knotel. “We are proud to work with owners to reduce vacancy quickly, and provide more options in our Midtown West campus.”
Alex Kantor represented East End Capital in-house at 580 Eighth Avenue, and Daniel Breiman represented Olmstead Properties in-house in the transaction at 575 Eighth Avenue. Knotel had no outside tenant representation.
Knotel – which designs, builds and operates custom spaces for companies of 50 employees or more –caters to established and growing brands. It has quickly expanded nationally and internationally, with additional locations in San Francisco, Los Angeles, London, Paris, Berlin and Brazil. Knotel currently operates 150locations, 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 3 million square feet across 150 locations in New York, San Francisco, London, Los Angeles, Berlin, Brazil and Paris, 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, HotelTonight, and Omnicom. Visit knotel.com.