Newmark is pleased to announce that it has successfully completed a new five-year, 20,987-square-foot sublease for Codecademy at 575 Broadway in Manhattan’s SoHo district. Newmark Senior Managing Directors Bernard Weitzman and Eric Cagner negotiated the deal on behalf of the subtenant, while JLL was the agent for sublessor Code and Theory.
Codecademy, the leading source of education for more than 25 million people around the world looking to upgrade their careers, has recently experienced a period of incredibly rapid growth. The new sublease encompasses a relocation from the firm’s previous headquarters location at 49 West 27th Street, a space that spans 8,800 square feet. 575 Broadway, a unique, landmarked building owned by A.R.I. Investors, sits on the corner of Broadway and Prince Street in SoHo and reflects the overall lively atmosphere of the neighborhood.
“Our team is excited to have helped Codecademy, a platform that makes education available and career upgrades accessible to millions of people around the world, find their new SoHo home,” said Weitzman. “575 Broadway is a very unique landmark building with exposed brick and high ceilings throughout. This sublease will accommodate our client’s growth with expansion space for the future.”
Codecademy is set to take occupancy of its new space on March 1st, 2018.
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”.
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.