Knotel inks Union Square lease with GFP

Flexible office space company to take 24K sf at 5-9 Union Square West
By Konrad Putzier | October 18, 2017 09:00AM

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.