Co-working company Knotel just inked two new leases totaling more than 44,000 square feet in Midtown and Downtown Manhattan.
Knotel agreed to take 23,429 square feet on the 14th floor of American Realty Capital’s 123 William Street. The company’s 10-year lease begins in February. The asking rent was in the low-to-mid $50s per square foot, according to CoStar.
Tom Kaufman of InterRelate Group represented Knotel in the deal. Denihan Hospitality Group, the boutique hotel that Knotel is subleasing from, was represented by Mark Weiss and Alan Wildes of Cushman & Wakefield.
These latest deals bring Knotel’s portfolio up to more than 500,000 square feet in Manhattan, Brooklyn and San Francisco. In September, Knotel and other co-working company Grind formed an alliance, agreeing to refer tenants to each other’s spaces as they both compete against a common competitor, WeWork. — Kathryn Brenzel