November 10, 2025 9:00 AM
Newmark announces the Company has arranged 64,000 square feet of office leasing activity on behalf of ownership, Vanbarton Group, at 31 Penn in Manhattan. The Newmark team of Executive Vice Chairman Brian Waterman, Vice Chairman Scott Klau, Executive Managing Director Erik Harris and Associate Director Cole Gendels, who serve as the building’s exclusive leasing agents, secured the transactions within six months of being appointed to the assignment.
The recent leasing momentum spans multiple transactions, including:
- HITT Contracting, who signed a 27,000-square-foot full-floor lease on the 8th floor. CBRE’s Dominic Orfitelli, Michael Poch and Carrie Wilkinson represented the tenant.
- Sequoia Benefits, Inc., signed a 25,000-square-foot full-floor lease on the 12th floor. JLL’s Jamie Katcher and Sebastian Infante represented the tenant.
- ClarityPay, Inc., signed a 12,000-square-foot lease on the 11th floor. Cushman & Wakefield’s Michael Movshovich and Eric Hazen represented the tenant.
“The response from the market has been exceptional,” said Harris. “31 Penn combines the efficiency and convenience that tenants need with the level of design and amenities that today’s workforce expects. The building’s recent transformation has clearly positioned it among the top-performing assets in this submarket.”
Located less than one block from Penn Station, ownership recently completed a full-scale repositioning led by Vanbarton Group to deliver a modernized, fully amenitized workplace. The building now features Greeley, a newly completed amenity center designed by TPG, which includes a golf simulator, lounge, café, breakout areas, and professional on-site catering. Additional offerings include ROOM 31, a newly renovated conference facility with an 18-person boardroom located within the building’s lobby, as well as a bicycle room with showers.
Set within one of the city’s most connected transit hubs, 31 Penn offers immediate access to 17 subway lines, NJ Transit, Amtrak, and PATH, as well as proximity to Hudson Yards, Herald Square, and Madison Square Garden. The property’s combination of accessibility, contemporary design, and ownership quality continues to attract a dynamic mix of tenants across industries.
About Newmark
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. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
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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 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.