Newmark Knight Frank (NKF) represented landlord American Realty Capital New York City REIT, Inc. (NYCR) in the leasing of three full floors to Knotel at 200 West 41st Street.
NKF Tri-State president David Falk, senior managing director Eric Cagner, senior managing director Jason Greenstein and associate director Matthew Siegel advised NYCR on the transaction, while the tenant was represented by Savills Studley’s John Mambrino, Gabe Marans and Jordan Weiss.
Knotel, one of Manhattan’s fastest growing office suite users, has leased the entirety of floors 5, 7 and 9 in the building.
These floors, which are a part of NYCR’s building wide pre-build program, facilitate Knotel’s strategy of seeking high-end, move-in ready, floors for their established community of tenants that are seeking quick solutions for their office space needs.
Since NYCR’s acquisition of the property, it has repositioned both the office space and retail space at 200 West 41st Street (aka 9 Times Square) to attract tenants seeking modernized office space.
NYCR constructed a brand-new lobby off the 41st street side of the building and initiated a building wide pre-build program that incorporated modern elements such as polished concrete floors, open ceilings and glass-fronted meeting rooms.
The result has been the leasing of the office space by a tenant base deriving from an array of creative-driven sectors such as technology, media, design and fashion.
“NYCR is delighted to add Knotel to the 200 West 41st tenant roster which already included such great new tenants as UXC Eclipse, Black Mountain Systems, Lindsay Longman, to name a few,” said Cagner.
“They are the type of innovative, growing company that NYCR originally set out to attract when developing the pre-build program at the building.
“While this lease with Knotel brings the building’s occupancy to nearly 70 percent, ownership remains committed to its strategy of delivering first-class move-in ready space to meet the needs of today’s tenants.”