THE RUDIN FAMIY’S 560 LEXINGTON AVENUE REACHES 100% OCCUPANCY WITH THE ADDITION OF FLEXIBLE OFFICE PROVIDER KNOTEL

by Knotel: June 14, 2018

FROM: RUDIN MANAGEMENT CO.

345 Park Avenue

New York, NY 10154

Rubenstein

Bud Perrone, bperrone@rubenstein.com, 212-843-8068

Jackie Hlavenka, jhlavenka@rubenstein.com, 212-843-8339

DRAFT FOR APPROVAL

THE RUDIN FAMIY’S 560 LEXINGTON AVENUE REACHES 100% OCCUPANCY WITH THE ADDITION OF FLEXIBLE OFFICE PROVIDER KNOTEL

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Company Known for “Headquarters as a Service” Approach Signs 17,000 SF Lease on the Entire 7th Floor of the Recently Renovated 22-Story Tower

New York, NY (January X, 2018) … The Rudin Family, one of New York City’s largest private owners, operators and developers of first-class real estate, announced today that 560 Lexington Avenue has reached 100% occupancy with the addition of flexible office space provider Knotel.

Knotel, which provides flexible office space to companies with 10 to 1,000 employees, has signed a 10-year, 17,000 square-foot lease comprising the entire 7th floor at the 22-story, 400,000 square-foot property, which is located at the northwest corner of Lexington Avenue and 50th Street.

The new location, which is expected to open in the first quarter of 2018, will continue Knotel’s expansion in the Manhattan market. The company currently has more than 30 locations in New York City and has set its sights on further expansion in large global cities, including San Francisco and London.

Knotel will also benefit from a number of new amenities and major capital improvements at the property. Recently, the Rudin’s worked in partnership with renowned architectural firm Skidmore Owings and Merrill (SOM) to brighten the building’s covered pedestrian space, create a new lobby, add new elevator cabs and construct an on-site, glass-enclosed subway entrance for the 50th Street “6” train station, which leads down to the Terence Cardinal Cooke-Cathedral branch of the New York Public Library.

Knotel is a prime example of the 21st Century firms who are discovering 560 Lexington Avenue’s vitality in terms of transportation, proximity to dining and shopping and entertainment,” said Michael Rudin, Senior Vice President of Rudin Management Company, the operating arm of the Rudin Family holdings. “This transaction is yet another positive indicator for our building and for the strength of the Midtown East office district.”

We couldn’t be more excited to be partnering with one of NYC’s premier landlords, the Rudin Family. 560 Lex is a coveted building given its recent renovation and convenient location. Our growth in Midtown reflects the continued interest in flexible and serviced office space from large and established enterprises,” said Amol Sarva, Knotel CEO & Co-founder.

Knotel was represented in the transaction by Elie Reiss of Skylight Leasing, while Rudin Management’s Kevin Daly represented building ownership.

Other major tenants at the property include Vodafone, Bayern LB, Merrill Lynch, Mitsui Sumitomo Marine Management, and KPMG. Retail tenants include Godiva Chocolatier and Starbucks Coffee.

About The Rudin Family

Rudin Management Company, which serves as leasing and managing agent for 560 Lexington Avenue, is a full service real estate organization managing the interests of the Rudin Family. Among its real estate holdings are 16 office buildings containing approximately 10 million square feet of commercial space and 18 apartment buildings comprising over four million square feet of residences.

About Knotel

Knotel is the leading flexible office platform with a footprint of over 650K square feet across 30+ locations in NYC and San Francisco. With over 2,000+ members in its portfolio, Knotel attracts sophisticated companies with 20 to 500 employees that seek shorter-term, more flexible office space and has found success by attracting high profile customers, reducing capital spend on builds, and quickly eliminating vacancy in owners’ buildings. For more information, check out www.Knotel.com.

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