Knotel pushes into FiDi with 43K sf lease

Firm has inked 100K sf in Manhattan leases of late

Apr.April 09, 2019 12:50 PM
Knotel CEO Amol Sarva and 88 Pine Street (Credit: Google Maps)

Knotel CEO Amol Sarva and 88 Pine Street (Credit: Google Maps)

Knotel, the flexible office company, is taking multiple floors at 88 Pine Street, rounding out a smattering of Manhattan leases recently signed by the company.

The New York-based company said Tuesday that it had taken 43,520 square feet at the Financial District tower, spanning floors four to nine. Led by Amol Sarva, the firm provides spaces for enterprise companies that are free of Knotel branding and offers varying floor plates.

Elie Reiss of Skylight Leasing represented Knotel in the deal.

The firm said it had signed five leases recently, totaling about 94,000 square feet in New York. The surge in leases also contributed to the firm’s 1 million square feet signed globally in the first quarter of 2019, it said. In January, Knotel was in advanced talks to lease the entire Flatiron Building, following a protracted negotiation process.

The firm faces intense competition for commercial space downtown: WeWork recently signed for 200,000 square feet at Jack Resnick & Sons’ 199 Water Street, and Convene just took Saks Fifth Avenue’s 73,000-square-foot space at Brookfield Place.

Founded in 2016, Knotel has raised $160 million and says it has 3 million square feet across 200 locations in New York, San Francisco, London, Los Angeles, Berlin, Brazil and Paris.

Related Articles

Brookfield Asset Management CEO Bruce Flatt

“We underwrite every investment like we’re going to hit a recession”: Brookfield CEO

Knotel CEO Amol Sarva (Credit: Sasha Maslov)

Knotel’s CEO cheered WeWork’s fall. But he’s got challenges too

Cadre founder Ryan Williams and Allen Smith

Cadre brings on former Four Seasons CEO as president

AKS Capital Partners Managing Partners Aaron Appel and Walker & Dunlop CEO Willy Walker

Walker & Dunlop acquires Aaron Appel’s AKS Capital Partners

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

250th Issue

The Real Deal celebrates 250 issues

Knotel CEO Amol Sarva (Credit: iStock)

Knotel lays off up to a third of its New York-focused staff: sources