Thinking about leaving your Midtown office? Think again.

by Knotel: Apr 09, 2018

Knotel is leading a Midtown office revival, opening new locations throughout New York’s largest, and now often overlooked, office district.  

The void created by the exodus of TAMI and FIRE first to Midtown South and now to the Financial District and Hudson Yards, presents a massive opportunity in Midtown for businesses looking for Class A space with full-floor plans, and the best proximity to public transit.

Simply, Midtown is now a tenant’s market.

Knotel is significantly investing in this NYC office submarket and turning it into a flexible real estate market for companies seeking a more agile approach to their long-term business strategy.   

Instead of locking into rigid long-term leases—and having to move or sublet in two or three years as company needs change, absorbing significant losses along the way—shrewd CEOs are shifting their attention back toward Midtown where Knotel has made flexibility a strength.

TAMI and FIRE companies drove the prices up in Midtown South and are set to do the same as more than 12.6 million square feet of new office supply hits the Manhattan market over the next two years, much of it consolidated in the Financial District and Hudson Yards.  

Midtown, however, is the solution for those companies looking for flexible office without paying a premium, particularly as vacancy is projected to increase up to 14.6% by 2021.

Bottom line: Business leaders are choosing to forego cash-intensive commitments on stagnant space for Knotel’s agile office solutions: pay less up front, on terms as short as one year, and enjoy all the premium office benefits in Midtown.

Join us on April 17th to learn more about Knotel’s growing Midtown presence.