NEW YORK, Jan. 25, 2016 /PRNewswire/ -- Newmark Holdings, a vertically integrated owner, operator, property manager and developer of commercial real estate, announced it has signed nearly 1.3 million square feet throughout its portfolio in 2015, a 300,000-square foot increase over 2014. 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.
"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," Mr. Steinwurtzel said. "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," Mr. Gural said. "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% represent renewals; and 30% are new deals. Some notable new tenants include Charity Global, NYC Elite Gym and Acumen Fund's new leases at 40 Worth Street; Civic Entertainment and L2, Inc.'s new leases at 740 Broadway/440 Lafayette; and First Quality Maintenance's new lease at 318 W 39th Street. Notable expansions and extensions include the Board of Elections renewal at 200 Varick Street; The Shubert Organization's expansion at 520 8th Avenue; and Knoa Software's extension at 5 Union Square West.
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.
SOURCE Newmark Holdings