Thor Equities Welcomes Knotel to Two Manhattan Properties

NEW YORK, May 24, 2019 /PRNewswire-PRWeb/ -- Thor Equities, a global leader in urban real estate development, leasing and management, today announced it has leased a combined 17,600 SF at two Fifth Avenue properties to Knotel. The flexible office space company will continue to build their portfolio, through an array of incredible custom spaces, at 590 and 597 Fifth Avenue.

At 590 Fifth Avenue, Knotel leased 11,200 SF over two column-free floors. In addition to many desirable building amenities, the property offers an amazing location in a highly sought after area. Additional tenants in the 95% leased office and retail property include Columbia University, HIP of greater NY, and AT&T.

At 597 Fifth Avenue, one of the most remarkable buildings in Thor's portfolio, Knotel has leased one full floor totaling 6,400 SF. With a rich history, stunning façade, and incredible architectural details, the address offers tenants a chance to occupy space in one of NYC's most desirable buildings, in one of the city's most coveted districts. The property is 100% leased and additional office tenants include Burma Bibas, Reclaim NY, Value Penguin Inc., Yieldstreet Inc., and Icreon Tech Inc.

"We are pleased to welcome Knotel to 590 and 597 Fifth Avenue, two of Thor's most extraordinary assets. Nearby iconic NYC destinations and some of the best shopping and dining the city has to offer, these properties are easily accessible and provide a perfect location for tenants to work and play. Thor is thrilled to play a role in the company's expansion and cannot wait to see what is next for Knotel," said Chairman and CEO, Joseph Sitt.

Leasing agents for 590 and 597 Fifth Avenue, Arthur Mirante, John Ryan, Patrick Steffens, and Dominic Perkovic of Avison Young represented the landlord in the transaction together with Adam Lavinsky of Thor Equities. Robbie Chattah and Aziz Kabbaj of Sitt Ventures represented Knotel.

About Thor Equities: Thor Equities is a leader in the development, leasing and management of commercial, residential, retail, hotel and mixed-use assets in premier urban locations worldwide. The company maximizes returns for investors by recognizing a property's potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. Thor Equities is also the exclusive representative of global retailers through Thor Retail Advisors, a premier leasing agent for marquee properties worldwide. For more information, visit http://www.thorequities.com.

SOURCE Thor Properties, LLC