Coworking Group, Knotel, Gobbles Up More Space in Midtown South
Just last week, start-up office space provider, Knotel, took 17,464 square feet at 373 Park Avenue South. Now, it has also been reported that they took an additional 28,000 square feet at 114 West 26th Street in Chelsea. According to ATCO Properties & Management, the landlord at 373 Park Avenue South, they signed a 10-year lease commencing on August 1st. The asking rent in the deal was $62 per square foot. At 26th street, Knotel signed a 10-year lease for the entire 2nd through 4th floors, according to Eugene Lee, Knotel’s head of property acquisition and business development. Asking rents for the building range from the low-to-mid $50’s per square foot. Skylight Leasing‘s Elie Reiss represented Knotel while Jeff Buslik of Adams & Company and Michael Beyda of Benchmark Properties represented the landlord.
Knotel provides comprehensive office services with flexible pricing and terms, something that is in high demand for the TAMI sector. After a $25 million Series A funding round, they have continued to expand their footprint throughout Midtown South. They now have more than 20 locations, across the 5 boroughs, and there are no signs of them slowing down. Knotel knows its target audience and understands how to cater their platform to make these folks happy.
For more information about these transactions click here. Feel free to try our free office space search here!