Knotel, the flexible office space provider, announced that it has finalized a 14,160 s/f lease at Eretz Group’s 101 Fifth Avenue.
It will take two full floors at the 11-story property, including the entire 4th and 5th floors.
With the new lease, Knotel will now have 40 locations totaling 580,881 s/f in the Flatiron District, Union Square and Chelsea.
The new lease at 101 Fifth Avenue is the latest in a series of transactions for Knotel. Most recently, the company completed an 80,650 s/f expansion at 110 William Street in Lower Manhattan, and reported that its global leasing volume reached approximately one million square feet in the first quarter of 2019.
“The addition of 101 Fifth Avenue contributes another prime site to our market leading portfolio in Manhattan,” said Eugene Lee, Chief Investment Officer at Knotel.
“As companies continue to flock to the Flatiron, Union Square and Chelsea areas, we are here to support them.”
Knotel was represented in the long-term transaction by Greg DiGioia and Michael Morris of Newmark Knight Frank.
The property – situated between East 17th Street and East 18th Streets – is home to an array of tenants, including retailer Zara on the building’s ground floor.