Newmark is pleased to announce that it has represented landlord American Realty Capital New York City REIT, Inc. (NYCR) in the leasing of three full floors to Knotel at 200 West 41st Street. Newmark Tri-State President David Falk, Senior Managing Director Eric Cagner, Senior Managing Director Jason Greenstein and Associate Director Matthew Siegel advised NYCR on this transaction, while the tenant was represented by Savills Studley’s John Mambrino, Gabe Marans and Jordan Weiss.
Knotel, one of Manhattan’s fastest growing office suite users, has leased the entirety of floors 5, 7 and 9 in the building. These floors, which are a part of NYCR’s building wide pre-build program, facilitate Knotel’s strategy of seeking high-end, move-in ready, floors for their established community of tenants that are seeking quick solutions for their office space needs.
Since NYCR’s acquisition of the property, it has repositioned both the office space and retail space at 200 West 41st Street (a/k/a 9 Times Square) to attract the best possible tenants seeking modernized office space meeting the needs of today’s businesses. NYCR constructed a brand-new lobby off the 41st street side of the building and initiated a building wide pre-build program that incorporated modern elements that today’s progressive tenants seek. The office space has polished concrete floors, open ceilings and glass-fronted meeting rooms. The result has been the leasing of the office space by a tenant base deriving from an array of creative-driven sectors such as technology, media, design and fashion.
“NYCR is delighted to add Knotel to the 200 West 41st tenant roster which already included such great new tenants as UXC Eclipse, Black Mountain Systems, Lindsay Longman, to name a few” said Cagner. “They are the type of innovative, growing company that NYCR originally set out to attract when developing the pre-build program at the building. While this lease with Knotel brings the building’s occupancy to nearly 70%, ownership remains committed to its strategy of delivering first-class move-in ready space to meet the needs of today’s tenants.”
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.