Amol Sarva trashes Newmark after ouster from Knotel

Exiled co-founder says brokerage damaged relationships with landlords, clients

National /
Apr.April 05, 2021 05:50 AM
Knotel CEO Amol Sarva and Newmark CEO Barry Gosin (Sarva via Sasha Maslov; Gosin via Newmark)
Knotel CEO Amol Sarva and Newmark CEO Barry Gosin (Sarva via Sasha Maslov; Gosin via Newmark)

Knotel co-founder Amol Sarva took some shots at its new owner, Newmark, on his way out the door of the flex office company he ran into the ground.

In a blistering email Friday evening, Sarva accused the brokerage of using the bankruptcy process to take over the once high-flying Knotel and damaging the company’s relationships.

In months leading up to its bankruptcy filing in February, Knotel angered many of its landlords by refusing to pay rent, torching relationships along the way. SL Green, Manhattan’s largest office landlord, said it would never do business with the firm again.

Sarva, in his letter, laid the blame at Newmark’s feet.

“This process undermined lots of important relationships and hurt lots of customers and partners,” he wrote. “I’m so disappointed that this was the direction pressed.”

To run Knotel in Sarva’s place, Newmark hired former WeWork vice chairman Michael Gross and a pair of other executives connected to WeWork, the co-working rival that Sarva once trolled by parking a bus outside its headquarters.

Sarva, referring to Newmark’s business decisions and former WeWork CEO Adam Neumann, claimed in his letter that it was his choice to leave Knotel.

“The process made clear to me that I would not choose to be part of the new owners’ way of moving forward,” he wrote. “Only to confirm that judgment, they have literally hired a group of Adam Neuman[n]–era WeWork bros to lead the company forward.”

The Knotel co-founder added that he was planning another startup, but would not yet say in what field.

Sarva and a representative from Newmark were not immediately available to comment.

In a previous farewell message, sent March 24, Sarva called Newmark “a most unwelcome guest,” Business Insider reported.






    Related Articles

    arrow_forward_ios
    CAA president Richard Lovett and ICM chairman Chris Silbermann with 2000 Avenue of the Stars and Constellation Place at 10250 Constellation Blvd (Getty, Viracon, Gensler)
    Talent agency megamerger leaves Century City office leases in doubt
    Talent agency megamerger leaves Century City office leases in doubt
    USPS nears lease for 100K sf distribution center in City of Industry
    USPS nears lease for 100K sf distribution center in City of Industry
    USPS nears lease for 100K sf distribution center in City of Industry
    Renderings of the project and Brookfield Properties Managing Partner and CEO Brian Kingston (Brookfield, Los Angeles Department of Building & Planning)
    Brookfield plans 350-unit apartment complex at Northridge shopping center
    Brookfield plans 350-unit apartment complex at Northridge shopping center
    Renderings of The Star
    The Star, a $500M office tower project, looks to light up Hollywood
    The Star, a $500M office tower project, looks to light up Hollywood
    The Boyd Street fire in May, 2020 (Getty)
    LA fire captain sues building, vape shop owners over May 2020 explosion in downtown
    LA fire captain sues building, vape shop owners over May 2020 explosion in downtown
    (Getty Images)
    SoCal’s “Space Beach” is ready for liftoff
    SoCal’s “Space Beach” is ready for liftoff
    Clockwise from top left: Kilroy Realty CEO John Kilroy, Boston Properties CEO Owen Thomas, TMG Partners CEO Michael Covarrubius and Eastdil Secured CEO Michael Van Konynenburg (Kilroy, LinkedIn via Thomas, TMG Partners, LinkedIn via Van Konynenburg, Getty)
    “We gotta get people back to the office”: West Coast landlord execs press for return
    “We gotta get people back to the office”: West Coast landlord execs press for return
    Oxford Properties CEO Michael Turner and the campus (Oxford)
    Oxford moves into LA with $134M industrial buy
    Oxford moves into LA with $134M industrial buy
    arrow_forward_ios

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

    Loading...