Flexible Office Provider Continues Flatiron District Leasing Push, Bringing Total Presence in the Midtown South Submarket to 955k SF
Knotel, the leading flexible office space provider, announced today that it has finalized a 14,160 square-foot lease at Eretz Group’s 101 Fifth Avenue, further strengthening its presence in Midtown South.
The flexible office provider 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 square feet in the Flatiron District, Union Square and Chelsea.
The new lease at 101 Fifth Avenue is the latest in a string of transactions for Knotel. Most recently, the company completed an 80,650 square-foot 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 a wide array of tenants, including retailer Zara on the building’s ground floor. It features easy access to the 4, 5, 6, L, N, Q, R and W trains at the Union Square subway station.
Knotel - which designs, builds and operates custom spaces for companies of 50 employees or more - caters to established and growing brands. It has quickly expanded nationally and internationally, with additional locations in San Francisco, Los Angeles, London, Paris, Berlin and São Paolo. Today, over 200 companies call Knotel home and the firm continues to expand into existing cities and new markets - both in the U.S. and overseas.
About Knotel With over 3 million square feet across 200 locations in New York, San Francisco, Los Angeles, London, Paris, Berlin and São Paolo, Knotel is transforming the way we work with its flexible office platform. Making long-term leases a thing of the past, Knotel designs, builds, and operates custom spaces for enterprises, so business leaders can focus on building the future.
Founded in 2016, Knotel has raised $160 million in funding, and was named a Business Insider Top 50 Startup and New York's Hottest New Workspace Model. Knotel’s member network includes companies like Starbucks, HotelTonight, and Omnicom. Visit knotel.com.
