Knotel and Visual Effects Company Take Space at 61 Broadway

By Nicholas Rizzi, Commercial Observer

Flexible workspace provider Knotel and a British-based visual effects company have inked deals for space at RXR Realty’s 61 Broadway, Commercial Observer has learned.

In the larger deal, Knotel signed a 10-year deal for 60,323 square feet in the Financial District building between Rector Street and Exchange Alley, a spokeswoman for the landlord said. Asking rent was in the high $50s per square foot.

The company—which Cushman & Wakefield said was the second-largest coworking company in Manhattan after WeWork—will take over parts of the ninth, 10th and 17th floors along with the entire 18th floor. (Disclosure: Observer Capital, led byObserver Media Chairman and Publisher Joseph Meyer, is a Knotel investor.)

RXR’s Dan Birney handled the deal for the landlord along with Newmark Knight Frank’s Hal Stein, Ben Shapiro, Todd Stracci and David Malawer. CBRE’s Sinclair Li, Dan Wilpon and Evan Fiddle represented Knotel. A spokeswoman for CBRE declined to comment.

“The flurry of leasing transactions at the end of 2018 bodes well for a successful and productive 2019,” Stein said in a statement. “Moreover, the new tenants we are welcoming to 61 Broadway share RXR’s brand ethos, bringing a level of creativity, community and collaboration to the portfolio.”

For the second deal, Framestore signed a 10-year lease for 24,479 square feet for the entire 32nd floor of the building, the RXR spokeswoman said. Asking rent was in the high $60s per square feet.

Framestore, which has its headquarters in London, will move its New York City offices from 135 Spring Street in Soho to RXR’s building.

Birney, Stein, Shapiro, Stracci and Malawer also represented RXR in this lease while Olmstead PropertiesSteve Marvin handled it for Framestore. Marvin did not respond to a request for comment.


Published: January 17, 2019
Filed Under: Leasing

The RXR platform manages 61 commercial real estate properties and investments with an aggregate gross asset value of approximately $18.5 billion, comprising approximately 24.4 million square feet of commercial properties, inclusive of a multi-family residential portfolio of approximately 2,600 units under operation or development, and control of development rights for an additional approximately 3,700 multi-family and for sale units in the New York Metropolitan area. Gross asset value compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.