9:00 AM
Newmark revealed today the planned renovations at 57 Willoughby Street in Brooklyn, NY. Newmark Managing Director Whitten Morris and Associate Director Joseph Sipala are the leasing agents for the landlord, Meadow Partners.
The building, previously owned by Helen Keller Services for the Blind, is undergoing an extensive renovation by new ownership that will be completed by September 2018. Renovations for 57 Willoughby will include an all-new lobby designed by TPG Architecture. The building will have new state-of-the-art elevators, updated mechanicals, and redesigned storefronts. Blocks from Brooklyn Heights, Cobble Hill, and Dumbo, 57 Willoughby is ideally located between many of Brooklyn’s most attractive neighborhoods. The building offers many of the attributes that today’s progressive tenants seek such as a desirable location, easy accessibility, and proximity to multiple subway lines. 57 Willoughby is one subway stop from Manhattan. The property contains six stories totaling 96,000 RSF of office space including a large block of space on the top floors of the building.
“57 Willoughby has been off the radar and geared historically to other nonprofits, so we feel this is a coming out party for the property and an excellent opportunity for the market to see the efficient floor plates, the large number of windows per floor, and the short walk to all mass transit,” said Mr. Morris.
The marketing floor is completed and renovations to the lobby and elevators will be completed by September 2018.
About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,900 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point, Newmark, and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark Group, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
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. 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 and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.