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Deals & Dealmakers Office Market

Knotel adds office space near Union Square, Flatiron District

Flexible office provider Knotel has added another 30,000 s/f to its Manhattan portfolio, adding additional locations near Union Square and the Flatiron District.

Last month, the short-term lease specialist closed on deals for 14,000 s/f between the second and third floors at 41 Union Square, and 16,000 s/f at 43 West 24th Street, where it took floors five, six and seven.

At the Union Square location, Michael Morris and Greg DiGioia of Newmark represented Knotel and Newmark also represented Brause Realty. Meanwhile, Elie Reiss of Skylight Leasing represented Knotel in the negotiations at 24th Street while Olmstead represented the landlord, The Rosen Group.

Unlike other flexible lease companies that focus on coworking and shared amenities, Knotel offers exclusive, unbranded offices to individual companies. Its recent acquisitions come on the heels of a deal with the Moinian Group for 20,000 s/f at 72 Madison Avenue, where Starbucks and the Sequoia Consulting Group have already signed full-floor subleases.

In total, Knotel controls 700,000 s/f of office space in New York and San Francisco.

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