NEW YORK CITY—Fueled by robust leasing activity at its New York City properties in the second quarter, Newmark Holdings reports that its 10-million-square-foot portfolio here is nearly fully occupied.

The real estate investment owner, operator and property manager states that in the second quarter a total of 268,639 square feet of lease deals were signed at its New York City properties. Newmark Holdings, founded more than six decades ago by the Gural family, says it now maintains a portfolio occupancy rate of 99%. Some of the firm's holdings include the Flatiron Building, 515 Madison Ave., The Film Center, 560 Broadway and more than 40 other properties located on the Far West Side, Soho, as well as in the Flatiron, Financial and Plaza districts.

“Newmark Holdings is pleased to report another solid quarter in 2017 as evidenced by the strong leasing results and high occupancy throughout our growing portfolio,” says co-CEO Brian Steinwurtzel. “Leasing in our portfolio has maintained a robust pace over the last several years, a reflection of the quality of our properties and commitment of the entire Newmark Holdings team.” Eric Gural also serves as co-CEO of Newmark Holdings.

Most of its notable leases in the second quarter involved lease renewals, including a 15,180-square-foot renewal at 440 Lafayette St. by Animoto Inc., a 13,500-square-foot-lease renewal for Rogers Group LTD at 318 West 39^th St., a 10,500-square-foot renewal with Film Forum at 200 Varick St., and a 15,095-square-foot renewal with Hartman Rare Art at 515 Madison Ave. There was also 12,004 square feet of new leases signed at 40 Exchange Place for Aloha (4,413 square feet), Decoded Advertising (4,216 square feet), Stern Agency (2,125 square feet) and K International Transport Co., Inc. (1,250 square feet).

Earlier this month, Newmark Holdings reported two notable lease renewals and expansions at 1560 Broadway. Times Square Alliance and law firm Jun Wang & Associates renewed and expanded their respective leases for a total of 14,886 square feet at the 17-story, 225,000-square-foot mixed-use building on West 46^th Street in Times Square.

Alan Steinberg, senior managing director of Newmark Holdings, acted on behalf of the ownership in both transactions. Times Square Alliance renewed and expanded its lease for a total of 10,365 square feet at the building. Jun Wang & Associates renewed its lease and added 2,627 square feet to its 1,894-square-foot space for a total of 4,521 square feet on the 11^th floor.

Instant Insights /

Newmark Holdings Inks Nearly 270,000 SF in Deals in Second Quarter

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