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Knotel Inks Management Deal at Sapir Offices
Flexible office provider Knotel has reached a management deal with the Sapir Organization at the office landlord’s 261 Madison Ave. The deal covers 45,070 square feet over two floors and a partial third at the 28-story office property.
Neither Sapir nor Knotel used brokers in the transaction. Knotel has also reached management deals at other properties in Midtown.
“Knotel is poised to become the second largest flexible office provider in New York City,” said Eugene Lee, Knotel’s global head of real estate & business development. “The rapid growth we’ve achieved is in direct response to large enterprises demanding customized and ready-to-use spaces on agile terms.”
The deal come on the heels of Knotel’s $70-million Series B financing, which was led by NKF and Sapir, and also included the Wolfson Group, the Moinian Group and Wainbridge Capital. Knotel has expanded to over 60 locations across New York, San Francisco, London, and Berlin.
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