Newmark announced today they have successfully completed a lease between the NYU School of Medicine and Caerus Group at 74 Kent Street in Greenpoint, Brooklyn for 16,679 square feet on the ground floor and lower level. Newmark Senior Managing Directors Bernard Weitzman and Eric Cagner and Associate Director Ryan Gessin represented building developer Caerus Group. Paul Wexler and Josef Yadgarov of Wexler Healthcare Properties at The Corcoran Group represented NYU.
Since the Greenpoint waterfront was rezoned, large-scale residential development has drawn numerous residents to the neighborhood. NYU will use the space to serve Greenpoint’s growing residential population in the neighborhood. The lease term is 15 years.
The top two floors of prime office space at the building are currently available. They total 15,066 square feet with exposed brick and extensive private outdoor space. The building was gut renovated with new mechanical systems, lobby, windows and bathrooms, and is located next to Kickstarter’s headquarters and over 5,000 brand new residential units.
“Caerus Group displayed both vision and foresight when they meticulously renovated this historic industrial landmark,” said Weitzman. “They were justly rewarded with a top tier credit tenant and a long-term lease.”
“We are very pleased to have had an opportunity to work on this transaction with the wonderful team at NYU Langone,” said Caerus Group’s Leo Tsimmer. “We believe their growing presence in the neighborhood combined with our efforts to bring new life into the Pencil Factory will be of great service to the growing Greenpoint Community and create numerous jobs.”
About Caerus Group
Caerus Group is a New York based real estate investment and development company, committed to realizing compelling returns from investing and operating high quality assets in commercial and residential segments. The company is known for its creative deal-making, construction expertise and firm belief in good design, which result in accretive value to its partners and investors. The Company’s current pipeline consists of residential and commercial properties with over $300 million in ongoing development projects in Manhattan, Brooklyn and Queens. Caerus Group places capital through its proprietary REDOP platform innovating alternative asset investments. For more information, visit www.caerusgp.com.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 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 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, 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”.
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