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Deals & Dealmakers

Lee & Associates secures two floors for Knotel in Tribeca

Lee & Associates NYC has brokered a 12,000 s/f lease for Knotel.

Gregory Gang, executive managing director, and Catherine O’Toole, executive managing director, arranged the 10-year lease across the entire third and fourth floors at 80 White Street in Tribeca.

The flexible workspace provider services larger companies (of at least 50 employees) who would otherwise sign traditional leases, by offering them more flexible terms ,such as shorter commitment periods and more options to expand or scale back their space.

The offices also come without Knotel branding, allowing companies to put their own stamp on the space.

“Knotel has been on the fast track to growth since the company was founded in 2016,” said Gang, who represented the property owner, General Hardware Manufacturing Co, along with his partner, Catherine O’Toole.

“TriBeCa is an enormously desirable neighborhood in which to work, meaning that this new Knotel location will be able to attract top-tier companies. I believe they chose 80 White Street both for the prime location as well as the accommodating ownership.”

To date, Knotel has raised $160 million and has been valued at $500 million. In the first quarter of 2019 alone, they signed one million square feet globally.

80 White Street is located in a landmarked and historic district. The building has been gut-renovated and boasts new electrical, windows and
elevators. Asking rent was $64 psf.

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