December 5, 2022 9:00 AM
Newmark Retail announces that it has secured three new leases at 185 Broadway in Manhattan’s Financial District on behalf of SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord. The leases, to tenants One Medical, Wells Fargo and T-Mobile, total 12,228 square feet. Newmark’s Vice Chairman Ariel Schuster, Senior Managing Director Ross Berkowitz, Director Mitch Heifetz and Associate Director Jason Wecker represented the landlord on all three transactions.
“The addition of these well-known providers to the area marks an important shift in the retail landscape of the Financial District,” said Berkowitz. “The neighborhood is attracting best-in-class tenants to a revamped retail market repositioning itself to meet the needs of both the area’s workers and residents.”
One Medical is taking space on the entire second floor spanning 7,072 square feet. Wells Fargo secured the north corner ground floor retail space totaling 2,086 square feet. T-Mobile signed for 3,070 square feet along the ground floor space, just south of Wells Fargo.
After a decade of rebuilding and over $30 billion of improvements, Downtown Manhattan boasts approximately 31,800 residential units with another 980 units underway, a total of 667,000 office employees, over 88 million square feet of office space and 127 million annual transit riders. 185 Broadway is prominently located at the epicenter of Downtown Manhattan and provides a true flagship street retail presence in the neighborhood’s most concentrated retail corridor with neighbors including Urban Outfitters, Century 21, Anthropologie, Gap and Zara. The building is situated directly above the Fulton Street Station, one of the city’s five top stations with a 2018 ridership of 27.719 million, across the street from the famed Oculus and just steps from the World Trade Center and Brookfield Place.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of nearly $3.2 billion for the twelve months ending June 30, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 6,500 professionals worldwide. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.