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Justin DiMare with NGKF Capital Markets was promoted to managing director. Over the last three years, Mr. DiMare assisted in transactions totaling more than $1 billion.
In 2013, he teamed with Newmark Grubb Knight Frank Vice Chairman Mark Weiss in helping orchestrate a land swap between the City of New York and a partnership of Memorial Sloan-Kettering Cancer Center and Hunter College at 525 E. 73rd Street that will lead to a 1.2-million-square-foot medical complex for the two institutions. NGKF also represented S.K.I. Realty in the subsequent sale of the 452,000-square-foot Cabrini Medical Center facility at Second Avenue and East 19th Street to The Chetrit Group.
Other recent deals include the sale of 17 East 12th Street, a 49,834-square-foot garage conversion on behalf of The Brauser Group for a record $1,034 per buildable square foot; a 28,500-square-foot lease with technology firm IDEO at 408 Broadway, a vacant building brought to full occupancy for Urban American Land after arranging the purchase of its defaulted mortgage and deed-in-lieu of foreclosure in 2011; and a 15,000-square-foot lease for a clinical facility located at 3722 82nd Street on behalf Mount Sinai Medical Center, an institution for which he has executed several leases.
“The capital markets business continues to evolve and it is important to recognize the next generation of top brokers who will be ahead of the curve,” said NGKF President James Kuhn, who heads NGKF Capital Markets.
Mr. DiMare joined Newmark Grubb Knight Frank in 2003 in the Asset Management division of the firm’s Manhattan headquarters. In 2005, he joined NGKF Capital Markets, specializing in the sale of investment properties and development advisory within the New York Metropolitan area.
Mr. DiMare is a member of the Real Estate Board of New York and the Young Alumni Leadership Council at NYU. He earned his master’s degree in Real Estate Investment from New York University and received a full scholarship from the Mortgage Bankers Association of New York in 2008. He earned a Bachelor of Science from Pace University majoring in Finance and Information Technology.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 12,000 professionals, operating from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.