Knotel’s NYC Network Reaches 100 Buildings

John Jordan | July 2019

Flexible office space provider Knotel’s 100th building location in New York City is located at 580 Fifth Ave.

NEW YORK CITY—Global workspace provider Knotel reports it has finalized deals for five new locations in New York City, bringing its overall footprint here to 100 buildings and nearly 2.5 million square feet of office space.

The firm’s announcement on July 1 followed completed deals for 24 new locations in New York City, London, Paris and San Francisco in the month of May alone.

“Owners, brokers and companies in New York City and across the globe continue to respond favorably to Knotel as a great alternative to the conventional office experience,” said Eugene Lee, chief investment officer of Knotel. “Because of this, we’ve developed a market-leading portfolio of flexible office locations in New York where we began less than four years ago—and across the globe with new sites in London, Paris and San Francisco, and expansion to new cities in the coming months.”

Since the beginning of 2018, Knotel has grown from 30 locations spanning 600,000 square feet to more than 200 locations rapidly approaching 4 million square feet. A partner for landlords and brokers, Knotel’s roster of clients includes Omnicom, Netflix, Daimler and Starbucks.

New locations announced by Knotel in New York City and in other global markets include:

• Three spaces at 12 East 33rd St. in New York City’s Murray Hill neighborhood totaling more than 9,000 square feet.

• Two spaces at 80 White St. in New York City’s SoHo neighborhood totaling more than 12,500 square feet.

• Two spaces at 36 Rue De Saint-Petersbourg in Paris’s 8th Arrondissement totaling more than 18,000 square feet.

• Four spaces at 80 Old St. in London’s Shoreditch neighborhood totaling more than 16,000 square feet; and

• Six spaces at 1550 Bryant in San Francisco’s Potrero neighborhood totaling nearly 38,000 square feet.

In late May, Thor Equities leased two Fifth Ave. properties totaling 17,600 square feet to Knotel, according to a Globest.com report.

At 590 Fifth Ave., Knotel leased 11,200 square feet, while at 597 Fifth Ave., the firm leased one full floor totaling 6,400 square feet.

In June, Knotel secured space in its 100th building in New York City by signing a 23,424-square-foot lease at 580 Fifth Ave., according to a report in the Commercial Observer.

Founded in 2016, Knotel has more than 3 million square feet across more than 200 locations in New York, San Francisco, Paris, London, Los Angeles, Washington, D.C., Berlin and São Paolo.

 

John Jordan
Editor, Real Estate In-Depth