NEW YORK, May 3, 2016 /PRNewswire/ -- Newmark Holdings, a vertically integrated owner, operator, property manager and developer of commercial real estate, announced it has signed more than 300,000 square feet of leases throughout its portfolio in the first quarter of 2016. The announcement was made by Principals Eric Gural and Brian Steinwurtzel of Newmark Holdings.
Launched over six decades ago by the Gural family and today one of the top five private owners of commercial property in New York City, Newmark Holdings maintains a 99% occupancy rate throughout its 10 million square foot portfolio. The company's properties include a number of the City's most 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, 515 Madison Avenue, The Film Center, 560 Broadway and more than 40 others.
"The first quarter of 2016 continued the phenomenal leasing momentum we experienced in 2015," said Mr. Steinwurtzel. "We remain committed to serving the real estate needs of small and larger business tenants alike, which requires the dedication of a tremendous team of 60 in-house professionals."
The average lease size executed in the first quarter of 2016 was 3,000 square feet, with 80% renewals and 20% new deals. Notable leases include Cathay Home Inc. relocation to 230 Fifth Avenue, L2, Inc's expansion at 740 Broadway and Levy Ratner PC's expansion and extension at 80 Eighth Avenue.
About Newmark Holdings
Newmark Holdings, led by Jeffrey Gural, Eric Gural and Brian Steinwurtzel, is a vertically integrated owner, operator, property manager and developer of commercial real estate with its 63-year-history of hands-on asset management and portfolio of more than 10 million square feet of commercial properties throughout New York City.
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SOURCE Newmark Holdings