Knotel Leases 60,323 Square Feet at 61 Broadway
The flexible workspace provider has taken four floors in the Lower Manhattan building.
NEW YORK CITY—Knotel has signed a lease for the entire ninth, 10th, 17th and 18th floors at 61 Broadway. The 786,975 square-foot Lower Manhattan office tower is at the corner of Broadway and Exchange Alley, stretching to Trinity Place.
“We are excited to be partnering with one of New York’s leading owner/operators, RXR, at 61 Broadway,” says Eugene Lee, global head of real estate & business development at Knotel. “This is a strategic step that reflects flexible real estate needs and the growing opportunities in the Lower Manhattan market.”
RXR Realty bought the building for renovation in May 2014 from a joint venture of Broad Street Development and Heyman Properties for $330 million, according to Real Capital Analytics. When the building was completed in 1914, it was called the Adams Express Building and was the seventh tallest structure in Manhattan. RXR renovated the historic building for modern office uses. The real estate firm upgraded the elevators, sprinkler systems, HVAC systems, bathrooms, hallways and lobby adding art by Frank Stella.
Real Capital Analytics also recorded that in December 2015, RXR sold a 49% interest in the property to China Orient Asset Management for $440 million.
CBRE’s Sinclair Li, Dan Wilpon and Evan Fiddle represented Knotel in the recent leasing transaction. Hal Stein, David Malawer, Ben Shapiro and Todd Stracci of Newmark Knight Frank represented building ownership.