Knotel is getting into ground-up development. The flexible office space provider signed a deal to anchor a commercial project at 473 President Street in Gowanus.
Once completed, the building will span between 150,000 and 300,000 square feet and Knotel will take the entire office portion, co-founder Amol Sarva told The Real Deal. The startup is also buying a small stake in the project.
Cogswell Lee, GLUCK+ and MCP President Street LLC (an entity managed by Cynthia and Michael Schlegel’s EcoRise Development) are the project’s joint developers with Knotel. Property records show that MCP is the owner of the two adjacent lots at 469 and 473 President Street. The lots span a combined 49,000 square feet.
The site is currently home to the Royal Palms Shuffleboard Club. Construction is expected to wrap up in 2019.