Newmark Holdings: It Was a Very Good Year

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NEW YORK CITY— Newmark Holdings signed nearly 1.3 million square feet throughout its portfolio in 2015, a 300,000-square-foot increase over 2014, the firm reveals. Newmark Holdings maintains a 99% occupancy rate throughout its 10 million square foot portfolio. The company’s properties include iconic buildings across all districts, spanning from the Far West Side and Soho to the Flatiron, Financial and Plaza Districts. Properties include the Flatiron Building, at 515 Madison Ave., the Film Center, at 560 Broadway and more than 40 others. “2015 was an extremely active leasing year for all of our properties, and we are grateful to the brokerage industry and our hard-working team for their work on more than 600 individual leases,” says principal Brian Steinwurtzel . “One hallmark of our portfolio is our commitment to housing small businesses, with more than 75% of our deals at 10,000 square feet or less. This takes a lot of velocity for our professional team, but it also offers opportunity for smaller businesses that want to feel important to their landlord, even if they don’t occupy a full floor.” “Over the last year, we averaged over 30 new lease closings a month thanks to a superb team of 60 real estate professionals in house at Newmark Holdings,” adds principal Eric Gural . “By serving diverse small businesses of the region, we increase profitability without increasing risk. The Newmark Holdings constituency is large and vibrant as a whole, supporting the long-term value of our buildings as they thrive.” The average lease size executed in 2015 was 3,600 square feet. About 70% represented renewals while 30% were new deals. Some notable new tenants included Charity Global , NYC Elite Gym and Acumen Fund ‘s new leases at 40 Worth St.; Civic Entertainment and L2 ‘s new leases at 740 Broadway/440 Lafayette; and First Quality Maintenance ‘s new lease at 318 W. 39th St. Notable expansions and extensions included the Board of Elections renewal at 200 Varick St.; the Shubert Organization ‘s expansion at 520 Eigth Ave. and Knoa Software ‘s extension at 5 Union Square West.