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Deals & Dealmakers

Knotel adds two new spaces as flex demand continues

Knotel, the flexible workspace provider, has expanded into two new spaces, signing leases totaling 18,742 square feet in Manhattan.

The announced transactions extend the firm’s strong growth in New York City since it was founded two years ago.

In the larger transaction, the firm took 12,658 s/f on the 26th floor at AR Global’s 123 William Street in the Financial District. The new space is in addition to the 23,429 s/f it currently occupies on the 14th floor, where Knotel has been successfully operating with Microsoft.

The new lease brings Knotel’s presence in the 26-story skyscraper to 36,087 ss/f overall. Elie Reiss of Skylight Leasing represented Knotel in the transaction, while ownership was represented by Brad Gerla and Jonathan Cope of CBRE.

Knotel has also inked a new 6,084 s/f deal at Justin Management’s 213 W 35th Street in the Garment District. The lease encompasses a portion of the 4th floor of the 13-story, 160,000 s/f building. There were no outside brokers. “In less than one year, we have strategically expanded our presence at 123 William Street while also growing our portfolio in Midtown,” said Eugene Lee, global head of real estate & business development at Knotel. “These new deals are a key example of the demand for flexible office space, which shows no sign of slowing down.”

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