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Knotel Adds Two New Locations Totaling 30,000 SF in NYC

The “Headquarters as a Service” Provider Signs Two Long-Term Leases in Chelsea, Gramercy Park Submarkets
March 6, 2018
Knotel, which manages flexible workspaces for growing companies, has signed long-term leases at 43 W. 24th St. and 41 W. Union Sq. in New York City.

At 41 W. Union Sq., it signed a 10-year lease for 14,000 square feet spanning the second and third floors. Brause Realty owns the 16-story masonry building, which was constructed in 1896 and renovated in 1910. The 130,165-square-foot office building is fully leased. Tenants at Gramercy Park property include marketing firms Rosie Labs and Datalot and physical therapy practice Perfect Stride. Brause Realty maintains an office presence in its building.

Newmark Knight Frank (NKF) represented both sides of table in this transaction. NKF’s Michael Morris and Greg DiGioia acted on behalf of Knotel.

Within the Chelsea submarket, Knotel inked a 10-year lease for the fifth, sixth and seventh floors of 43 W. 24th St., for a total 16,000 square feet. The 12-story masonry building is owned by the Rosen Group and totals 75,000 square feet of office space. About 3,150 square feet remain available there. Built in 1912, the property sits between Fifth and Sixth Avenues. Apropo Studio, Duggal Visual, Spot Creative and Parsec Media are among the building’s tenants, which are a mix of design and business services.

Elie Reiss, founder of Skylight Leasing, represented Knotel in the transaction. Olmstead Properties represented The Rosen Group.

Knotel would not confirm to CoStar News whether it has already secured customers for the spaces. The company’s portfolio, focusing on the New York Metro Area and three San Francisco locations, now totals more than 700,000 square feet.

Diana Bell, New York City Market Reporter  CoStar Group   
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