Newmark Grubb Knight Frank (NGKF) is pleased to announce it secured a 10-year, 11,600-square-foot lease for Karhoo’s headquarters location at 386 Park Avenue South. President New York Tri-State Region David Falk, Senior Managing Director Eric Cagner and Associates Alex Leopold and Jon Franzel represented the landlord HSR Corp. in the transaction.
Upgrading from its temporary New York office in Tribeca, Karhoo’s new location at 386 Park Avenue South will function as the company’s global headquarters.
“HSRC sees every lease as a partnership not just a tenancy. Karhoo is a great addition to the building and further strengthens 386 Park Ave South’s brand image. Along with our neighbors, we continue to secure Park Ave South as NYC’s tech and media hub,” states HSRC’s Harvey Fung. HSRC is a family- owned and operated real estate investment firm holding a wide range of asset classes internationally and throughout the U.S. HSRC is headed by its Principals, William Fung, Harvey Fung and Vincent Fung.
“We have proactively built out full floors to relieve the tenant of the responsibility and make the process more convenient,” said Cagner. “We are thrilled to have a tenant like Karhoo join the roster at 386 Park Avenue South. The company truly complements the direction in which we have taken the building and they are a terrific addition to our existing creative tenant base.
Karhoo was represented by Executive Managing Director/Principal Dennis Someck and Managing Director Justin Myers of Lee & Associates.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.