ABS Partners Inks 12,683-Square-Foot Management Agreement with Knotel at 224 West 30th Street

by Knotel: June 14, 2018

Contact: Hudson Pitts, 212.868.1900 x612, hpitts@quinn.pr

Thiago Viana, 212.868.1900 x352, tviana@quinn.pr

ABS Partners Inks 12,683-Square-Foot Management Agreement with Knotel at 224 West 30th Street

Office Space Leasing Firm Takes Full Floor in Chelsea High-Rise

NEW YORK (March X, 2018) – Full-service commercial real estate firm ABS Partners Real Estate (ABS) signed a 12,683-square-foot management agreement with flexible office platform Knotel at 224 West 30th Street. Knotel, which provides turnkey, flexible office space solutions for established businesses, in both New York and San Francisco, is further expanding its Manhattan presence with a long-term deal for the full fifth floor of the Chelsea building.

James Caseley, John Brod and Alison Miller of ABS represented the landlord, MB Hamptons, LLC, the New York-based subsidiary of Shokai Group, a real estate holding firm based in Beijing, China. Jessica Tu from CJ Net Inc. and Aziz Kabbaj from Mirador Real Estate represented the tenant in the transaction.

ABS is delighted to have represented MB Hamptons, LLC in this transaction with Knotel, who will complete the installation of its full-floor space to reflect its brand,” said Mr. Brod. “We have been working closely with ownership to transform this building, which is presently comprised of fur showrooms, into a premiere office destination within the Penn Station/Hudson Yards corridor.”

Knotel expanded rapidly in 2017 on the back of a $25 million Series A and growing demand from high-growth and established companies. In 2018, Knotel expects to reach several million square feet and has set its sights on further expansion in large global cities, including San Francisco and London. The firm allows businesses to reduce overhead costs by offering flexible office space with branding, design, moving and logistics support.

224 West 30th Street is a 14-story, 142,801-square-foot property located in Chelsea. Constructed in 1925, the high-rise building features a neo-classical architectural design. The building is situated close to the major transportation hubs of Penn Station, the Port Authority Bus Terminal and the Times Square 42nd Street subway station.

About ABS Partners Real Estate

ABS Partners Real Estate, LLC is a premier New York-based real estate services firm. Founded by industry leaders, ABS has assembled a dynamic team of professionals with expertise in all facets of real estate services, including owner-advisory services, leasing, sales and property management. ABS also specializes in land use and ground lease consultation, the transfer of development rights, fractional ownership valuation, FAR valuation, and services specifically related to the issues faced by families holding real estate for multiple generations over. In addition to its service-related activities, the Principals of ABS are actively engaged in partnerships to own real estate. Brokers at ABS have the opportunity to participate in those partnerships. The founders of the firm believe that by owning real estate the members of the firm are better able to serve its clients by gaining a deeper, first-hand understanding of the needs of property owners.

About Knotel

Knotel is the leading flexible office platform with a footprint over 700k square feet across 40+ locations in NYC and San Francisco. With over 2,000+ members in its portfolio, Knotel attracts sophisticated companies with 20 to 1,000 employees that seek shorter-term, more flexible office space and has found success by attracting high profile customers, reducing capital spend on buildings, and quickly eliminating vacancy in owners’ buildings. For more information, check out http://knotel.com/

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