Knotel inks Union Square lease with GFP

Flexible office space company to take 24K sf at 5-9 Union Square West

TRD New York /
Oct.October 18, 2017 09:00 AM

5-9 Union Square West (center) and Amol Sarva

Flexible office startup Knotel inked another office lease, taking 24,000 square feet at GFP Real Estate’s 5-9 Union Square West.

Newmark Knight Frank represented Knotel in the deal, the startup’s second with GFP following a lease at 40 Exchange Place in the Financial District earlier this year.

The company is taking floors three and four in the loft-style building in Union Square.

Knotel takes office space under leases or management agreements and sublets it to firms in need of serviced office space under flexible lease terms. Earlier this month it announced its 20th Manhattan location at 655 Madison Avenue. Founded in 2015 by Amol Sarva and Edward Shenderovich, the startup raised $25 million in a Series A funding round earlier this year. “We intend to build a vast global enterprise,” Sarva told The Real Deal at the time.

Last month the company formed an alliance with co-working company Grind, Taking Over Its 419 Park Avenue South location.

Related Articles

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

250th Issue

The Real Deal celebrates 250 issues

Knotel CEO Amol Sarva (Credit: iStock)

Knotel lays off up to a third of its New York-focused staff: sources

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

Neir’s Tavern (Credit: Google Maps)

City’s oldest bar, of “Goodfellas” fame, gets last-minute lifeline

Neir's Tavern (Credit: Google Maps)

Landlord to bar owner: You don’t have to go home but you can’t stay here

729 Seventh Avenue (Credit: Google Maps)

Lawyer argued façade was safe 3 months before fatal accident

Bill Ackman, LeBron James, and Arnold Schwarzenegger with 787 11th Avenue (Credit: Google Maps and Getty Images)

Celebrity property group caught in $11M construction dispute