The Real Deal New York

Knotel lands more office leases in NoMad, Flatiron District

WeWork rival taking 43K sf at 156 Fifth Avenue and about 40K sf at 105 Madison Avenue
By Eddie Small | May 23, 2018 09:00AM

Amol Sarva, 105 Madison Avenue, and 156 Fifth Avenue (Credit: Photos via Wikimedia Commons and CityRealty)

Knotel is continuing to rack up its leases in New York City.

The flexible-office company has landed a 43,000-square-foot lease at 156 Fifth Avenue in the Flatiron District and a 40,050-square-foot lease at 105 Madison Avenue in NoMad, according to sources familiar with the deals.

Elie Reiss of Skylight Leasing served as the broker for Knotel at both buildings, and Brett Rovner and Randolph Lewis of The Ashtin Group represented landlord A&R Real Estate at 105 Madison Avenue. HRC Corporation, the landlord at 156 Fifth Avenue, represented itself in the transaction.

Representatives for Knotel declined to say how long the leases were for and what clients would occupy the spaces.

Knotel, a rival to WeWork, landed another new lease earlier in May for 23,000 square feet in Savanna’s Chelsea building at 31 West 27th Street. The company also inked a lease for 24,000 square feet in Soho at 584 Broadway in January.

It has leased more than 1.1 million square feet over the past two years in New York, San Francisco and London and was recently valued at $500 million.