Knotel inks two new leases for more than 44K sf

Deals bring portfolio up to 500K sf
November 21, 2017 08:30AM

From left: Rendering of 123 William Street and 551 Fifth Avenue (credit: Wikimedia Commons) (inset: Amol Sarva)

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.

Knotel also signed a five-year sublease for 20,955 square feet on the ninth floor of the Feil Organization’s 551 Fifth Avenue.

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.

At the William Street property, Knotel was represented by Elie Reiss of Skylight Leasing. Brad Gerla and Jonathan Cope of CBRE represented American Realty Capital.

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