Goodman of ATCO and Lee of Knotel collaborate for 10-year lease at 373 Park Ave. South: 17,464 s/f

Manhattan, NY According to ATCO Properties & Management, a  shared office provider will be joining the tenant roster at 373 Park Ave. South, a 12-story, boutique office building in the Flatiron District.

Knotel Inc., the network of custom locations that provides modern businesses with adaptable headquarters, has signed a lease for 17,464 s/f at the 102,552 s/f property, which is located between East 26th and 27th Sts. The new lease encompasses the entire 6th and 9th floors.

Kate Goodman of ATCO Management Services, LLC represented the landlord in the 10-year leasing transaction, while Eugene Lee, from Knotel represented the tenant. Asking rent was $62 per s/f.

“This transaction speaks volumes about the emergence of 373 Park Ave. South as a destination for TAMI companies,” said Goodman, co-president of ATCO. “Knotel is such a company, and we’re confident that they will benefit from our building’s outstanding location and best-in-class connectivity.”

Knotel’s new lease follows an impressive surge of leasing activity at 373 Park Ave. South. Over the last 12 months, ATCO has achieved more than 20,000 s/f of transactions at the property, including notable new tenants such as co-working organization NeueHouse and French bakery company Masion Kayer. Other major tenants include Hanky Panky, Advanced Focus and Deetown Music. The building is also home to retail tenant Dos Caminos, a modern Mexican restaurant and lounge.

Constructed in 1910, 373 Park Ave. South is near Madison Square Park and subway lines, including the N, R, Q and 6 trains. 

ATCO is a real estate investment and ownership platform deploying capital in select cities across the United States, with a particular emphasis on value-add opportunities. ATCO is currently deploying capital through a joint venture program with family offices and other private capital, focused on urban office and retail properties. Target markets include the Central Business Districts of Austin, Nashville, Charlotte, and Raleigh-Durham-Chapel Hill, and the metro New York area.