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MJ Orbach Leases 33,000 SF to Knotel

The flexible office space provider’s leases have already started at the Manhattan buildings, one in the Midtown South and the other in Chelsea.

259 W. 30th St./ Photo credit: MJ Orbach 259 W. 30th St./ Photo credit: MJ Orbach

NEW YORK CITY—Knotel has leased 16,975 square feet at 259 W. 30th St. in Chelsea and 15,834 square feet at 260 W. 39th St. in Midtown South from MJ Orbach Associates. The combined leases add up to 32,809 square feet spanning five floors. The buildings share similarities. Both were constructed in the mid to late 1920s and are located between Seventh and Eighth avenues.

The asking rents in the Chelsea property are in the high $50s per square foot and in the Midtown South building in the Garment District are in the low $50s per square foot. Knotel’s leases are for 10 years, flexible to their sub-tenants.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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