Knotel inks deal for 20th Manhattan location

Flex office startup takes 23K sf at 655 Madison

New York /
Oct.October 04, 2017 09:30 AM

Flexible office startup Knotel is taking 23,000 square feet at 655 Madison Avenue in Midtown, its 20th location in Manhattan.

Knotel will occupy floors 12 and 14 under a five-year management agreement with the landlord, a group of former Williams Real Estate principals including Andrew Roos. No brokers were involved in the deal.

In 2013, billionaire developer Stephen Ross’ wife Kara signed a 600-square-foot retail lease for her jewelry line in the 24-story, 244,655-square-foot tower.

Knotel, a provider of serviced office space under flexible lease terms, raised $25 million in a Series A funding round earlier this year. It is locked in fierce competition with WeWork, which has offered at least one Knotel customer a year of free rent if it switched over. Last month Knotel formed an alliance with coworking company Grind, taking over one of its spaces.


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