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Deals & Dealmakers

Shared office provider Knotel signs 17,464 s/f at 373 PAS

ATCO Properties & Management announced that shared office provider Knotel Inc. will be joining the growing tenant roster at 373 Park Avenue South, a 12-story, boutique office building in the Flatiron District.

Photo via DaVinci Virtual
Photo via DaVinci Virtual

Knotel Inc., the network of custom locations that provides modern businesses with adaptable headquarters, has signed a lease for 17,464 s/f of space at the 102,552 s/f property, which is located between East 26th and 27th Streets.

The new lease commences in August 2017 and encompasses the entire 6th and 9th floors.

“This transaction speaks volumes about the emergence of 373 Park Avenue South as a destination for TAMI companies,” said Kate Goodman, co-president of ATCO Properties & Management.

“Knotel is such a company, and we’re confident that they will benefit from our building’s outstanding location and best-in-class connectivity.”

Knotel’s new lease follows a surge of leasing activity at 373 Park Avenue South. Over the last 12 months, ATCO has achieved more than 20,000 s/f of transactions at the property, including new tenants such as upscale co-working organization NeueHouse and French bakery company Masion Kayser.

Other major tenants include Hanky Panky, Advanced Focus and Deetown Music.

The building is also home to retail tenant Dos Caminos, a modern Mexican restaurant and lounge.

Constructed in 1910, 373 Park Avenue South is near Madison Square Park and several subway lines.

Kate Goodman represented the landlord in the 10-year leasing transaction, while Eugene Lee, from Knotel represented the tenant. Asking rent was $62 psf.

 

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