Knotel Inks Another Manhattan Lease

The flexible office firm will occupy three floors at Moinian Group’s 217,534-square-foot office in the Gramercy Park submarket.
60 Madison Avenue

Continuing its momentum from September, Knotel has leased 56,100 square feet at the 217,534-square-foot 60 Madison Avenue in Manhattan. The flexible office company will occupy three full floors at The Moinian Group’s property. Yardi Matrix information shows the office hasn’t changed hands since 1982. 

Located next to Madison Square Park in the Gramercy Park submarket, the 13-story building is within 1 mile of Penn Station and Grand Central and two blocks from three subway lines. The asset is close to a wide variety of hotels, including the Ace and Gansevoort, with ample dining and shopping options in the immediate area.

Originally completed in 1910, the property was last renovated in 2013. The owner plans to update the lobby and elevators in the future. The building has nearly 11,000 square feet of retail on the ground floor, home to Essen Food and a boxing club.

The new lease brings the property close to full occupancy, according to Yardi Matrix data. The current tenant roster includes Wellington Consulting Group, MassMutual, The Atlantic Monthly Group, Steginsky Capital and Community Healthcare Network.