Knotel adds five new Manhattan locations

Flexible office company inks deals with Moinian, Elijah

TRD New York /
Sep.September 11, 2018 04:15 PM

From left: 54 West 22nd Street, Amol Sarva, and 307 Fifth Avenue (Credit: Phorio and Agorafy)

UPDATED, Sep. 12, 3:00 p.m.: Knotel signed five new Manhattan leases spanning a combined 38,800 square feet, the flexible office company announced Tuesday.

The startup is taking 12,500 square feet 54 West 22nd Street, 7,500 square feet at 29 West 17th Street, 5,000 square feet at 147 West 24th Street and 2,500 square feet at 37 West 17th Street. All four leases were signed with Moinian Group, which is also an investor in the company.

Knotel also leased three floors spanning a combined 11,300 square feet at Elijah Equities’ 307 Fifth Avenue.

Knotel, founded in 2016, manages more than 1.4 million square feet of office space in 70 buildings in New York, San Francisco, London and Berlin. The company raised $70 million in a Series B funding round in April.

The company’s continued expansion comes as it faces a challenge from WeWork, which has started offering 50 percent off their first year’s rent to tenants who switch over from Knotel and other rivals and 100 percent commission to brokers who bring them in.

Note: Since this article was published TRD has learned of a fourth lease with Moinian Group. The article has been updated accordingly.


Related Articles

arrow_forward_ios
Colliers’ Jay Hennick (iStock; Colliers)

Colliers’ profit rebounds

Colliers’ profit rebounds
JPM asset CEO Mary Callahan Erdoes and 605 Third Avenue (Getty; Google Maps)

JPMorgan eyes $600M valuation for Third Ave office tower

JPMorgan eyes $600M valuation for Third Ave office tower
(Getty, iStock)

Hundreds of storage units in New York heading to auction

Hundreds of storage units in New York heading to auction
KABR Group CEO Kenneth Pasternak and 85 Challenger Road in Ridgefield Park, NJ (Photos via KABR)

KABR sells New Jersey building for reported $60M

KABR sells New Jersey building for reported $60M
Gov. Andrew Cuomo and Mayor Bill de Blasio (iStock)

Manhattan theaters sue Cuomo, de Blasio over Covid restrictions

Manhattan theaters sue Cuomo, de Blasio over Covid restrictions
2055 Anthony Avenue and 1416 Ferris Place (Google Maps)

Ved Parkash picks up Fordham Heights apartment building

Ved Parkash picks up Fordham Heights apartment building
(Getty)

When the music stops: Guitar Center could file for bankruptcy

When the music stops: Guitar Center could file for bankruptcy
Abandoned malls are being turned into senior housing, giving planners a chance to rethink retirement communities (iStock)

Abandoned malls get new life as senior housing

Abandoned malls get new life as senior housing
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...