Newmark Knight Frank Sells 462,000 SF Office Portfolio
The sale on behalf of The Davis Companies and Onyx Equities, consists of two office buildings in Garden City, NY.
NEW YORK – Newmark Knight Frank has sold a 462,000-square-foot office portfolio on behalf of The Davis Companies and Onyx Equities.
The portfolio consists of two Class A office buildings located at 900 and 990 Stewart Ave in Garden City, New York, one of Long Island’s fastest growing suburban markets. The buildings are 88% leased to a mix of company tenants.
The sale to a New York-based investor, marks the highest office sale price on Long Island in more than ten years.
Newmark Knight Frank’s Capital Markets team of Kevin Welsh, Brian Schulz and Jason Emrani led the transaction alongside Rob Griffin, Steven Schultz, Scott Berfas and Dan Oliver. The team also secured the buyer. Newmark Knight Frank’s Capital Markets Strategies team of Anthony Orso and Ari Schwartzbard secured financing for the acquisition.
Newmark Knight Frank is a global commercial real estate advisory firm, operated by Newmark Group Inc. The firm currently operates on six continents with 16,000 employees to offer a variety of services to owners and occupiers.
The Davis Companies, headquartered in Boston, is a real estate investment, development and management firm that currently owns a portfolio of 10.2 million square feet across office, retail, industrial, healthcare and life science sectors.
Onyx Equities LLC is a real estate investment and property services firm that focuses on acquiring, managing and repositioning commercial and residential properties.