The Real Deal New York

Knotel takes 25K sf at 400 Madison

Flex office startup is expanding aggressively
By Konrad Putzier | December 01, 2017 08:00AM

400 Madison Avenue, Amol Sarva and Robert Bellinger

Another week, another Knotel deal. The flexible office space provider signed a management agreement to take 25,000 square feet of office space at ASB Capital Management’s 400 Madison Avenue.

The company announced Friday that it will occupy the fourth, seventh and part of the third floor of the 190,000-square-foot building under a ten-year deal. JLL represented the landlord.

Knotel, which was founded in 2015 and raised $25 million in a Series A funding round announced in February, has been expanding aggressively in recent months.

Last week, the company announced two leases at 123 William Street and 551 Fifth Avenue, bringing its footprint in New York City and San Francisco to more than 500,000 square feet.

The startup competes with WeWork for office tenants and has accused employees of the $20 billion behemoth of corporate espionage.