The Real Deal New York

Knotel takes 45K sf at Sapir’s 261 Madison

Landlord invested in Knotel’s Series B
By Konrad Putzier | July 30, 2018 11:30AM

Knotel’s Eugene Lee and 261 Madison Avenue (Credit: Knotel and Google Maps)

Knotel signed a management agreement for just over 45,000 square feet at the Sapir Organization’s 261 Madison Avenue, the company announced Monday.

The flexible office company will lease the entire fourth and 18th floors and part of the sixth floor. This is Knotel’s first lease deal with Sapir, which invested in its $70 million Series B funding round.

Knotel, which leases furnished, serviced office space to companies under flexible terms, claims it now runs more than 60 locations spanning more than 1 million square feet in New York, San Francisco, London and Berlin.

The company is also working on the launch of a blockchain-based office leasing data platform, dubbed Baya, and recently acquired the online office listing platform 42Floors.