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Deals & Dealmakers

Knotel adds 1M s/f in first quarter of 2019

Knotel, the flexible office space provider, has finalized five office transactions totaling 93,903 s/f in New York City.

The transactions cap a record-breaking first quarter at Knotel, with global growth surging to add another one million square feet under management.

The largest transaction is a 43,520 s/f lease at 88 Pine Street in the Financial District. The new space in Orient Overseas Associates’ building encompasses the 4th and 9th floors. Elie Reiss of Skylight Leasing represented Knotel in the transaction.

Knotel also signed a 27,404 s/f space on the ­­25th and 26th floors at 1407 Broadway in Times Square. Michael Cohen and John Pavone of Colliers International represented Knotel, while Jon Wheless and Chris Perry from Aquila Comercial represented the sub-landlord, GoDaddy.

In addition to the new deals at 88 Pine Street and 1407 Broadway, Knotel completed three other transactions in Midtown South, including:

A 9,979 s/f lease on the 4th floor at Winter Properties’ 26 West 17th Street. Knotel was represented by Doug Regal of Cushman and Wakefield;

A 7,500 s/f lease on the 4th, 7th, and 8th floors at Moinian Group’s 29 West 17th Street. Knotel was represented by Elie Reiss of Skylight Leasing;

A 5,500 s/f sublease on the 11th floor at 28 West 25th Street, with Flipboard as the sub-landlord. Knotel was represented in house.

“Adding one million square feet globally in the first quarter is a significant milestone for our business here in New York and around the world,” said Amol Sarva, Knotel CEO and co-founder.

“As the industry leader in flexible office, we have built a machine that quickly and efficiently adds great locations in major markets around the world to serve our clients, and this growth will continue to accelerate.”

Knotel gets, builds and operates spaces for companies of 50 employees or more. Founded in New York City, it has locations in San Francisco, Los Angeles, London, Paris, Berlin and Brazil.

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