Doug Harmon serves as Co-Head of U.S. Capital Markets. Harmon, with a career trajectory spanning almost four decades, is widely recognized as one of the most creative, influential and respected dealmakers in the real estate industry, having completed transactions totaling over $250 billion in value since 1997.
Harmon and his industry-leading team have been involved in most of the world’s largest, highest-profile and record-setting transactions over the last three decades. He and his partner, Adam Spies, ranked #1 in capital markets in New York for 2022.
Based in Newmark’s headquarters in New York, Harmon joined the company in 2023 from Cushman & Wakefield, where he served as Chairman of Capital Markets. Prior, Harmon and Spies were the top capital markets team at Eastdil Secured.
Areas of Specialty
- Capital Markets
- Helmsley Portfolio (1997 – 2000) – In his early 30’s, Mr. Harmon handled the sale of the Helmsley Portfolio, valued at over $5 billion, marking a watershed moment in his career. Major assets included One Penn Plaza, 230 Park Avenue-Helmsley Building, Starrett-Leigh, Park West Village, Greybar Building, 500-512 Seventh Avenue, 140 Broadway, 1466 Broadway, and the Villas Parkmerced.
- Peter Cooper Stuyvesant Town (2015) – Sold to Blackstone this iconic, 110 building, 11,250 unit, 80-acre, $5.44 billion residential transaction, marking the largest single real estate transaction ever recorded.
- Chelsea Market (2003, 2011, 2018) – Harmon’s latest sale of The Chelsea Market to Google for $2.4 billion in 2018 was New York City’s largest single office / multi-use transaction of all time.
- GM Building (2003, 2006) – Sold the GM Building to Harry Macklowe in 2003 for a record-breaking sum of $1.4 billion, at the time the priciest in New York City history, also sold Jamestown’s GM interest in 2006 (Macklowe’s sole partner at the time) at a $2.5 billion valuation.
- Bank of America Center / 555 California Street (2005) – Sold Bank of America Center to Hudson Waterfront for $1.05 billion on behalf of Mark Karasick and David Werner.
- Apthorp (2006) – Quarterbacked the sale of the Apthorp in 2006, achieving a record for the highest price ever paid on a per-unit basis at $2.4 million plus per unit.
- Google NYC Headquarters / 111 Eighth Avenue (2010) – Sold this largest transaction in 2010; at $1.9 billion, it marked the largest NYC transaction of the last few years, the largest single transaction to a user, and a watershed moment for the Midtown South submarket of Manhattan – as Google expanded in the building and completely transformed Chelsea and the Meatpacking District. 200 Fifth Avenue (Eataly) and 1107 Broadway (2007) – Arranged the sale of 200 Fifth Avenue and 1107 Broadway, then known as the Toy Buildings, which have since transformed the Flatiron District of Midtown South.
- Sony Building / 550 Madison Avenue (2013, 2016) – Advised the Sony Corporation in their Midtown headquarters sale for $1.1 billion. Sony purchased the building from AT&T in 2002 for approximately $236 million. In 2016, he navigated Ownership through a $1.5 billion sale – the highest price achieved for a vacant office building at $1,800 PSF.
- 650 Madison Avenue (2013) – $1.35 billion sale representing the largest single-asset sale transaction in 2013.
- 5 Times Square (2014) – Led this $1.55 billion sale, marking the largest single-asset transaction in 2014.
- Three Bryant Park / 1095 Avenue of the Americas (2015) – Sold for $2.2 billion, marketing the largest single-asset transaction in 2015.
- 450 Park Avenue (2007, 2014) – Achieved the record for the most expensive office building in New York City on PSF basis both times he sold the building, achieving $1,583 PSF in 2007 and $1,700 PSF in 2014.
- Sears / Willis Tower (2004, 2015) – Sold this iconic tower in 2004 and again to Blackstone for $1.3 billion in 2015, marking the highest price ever paid for an office building outside of New York City.
- Villas Parkmerced (1998, 2005, 2010, 2014) – Sold or recapitalized this deal four different times every year it was the largest multi-family deal in the country. Located in San Francisco, Villas at Parkmerced contains 3,300 units and over 150 acres. The latest sale for $1.5 billion was the largest residential sale in the country since 2006.
- Crown Building / 730 Fifth Avenue (2015) – Led the sale on behalf of the Winter and Spitzer families in the $1.775 billion sale. At $4,490 PSF, the 2015 sale sets the record for the highest price ever paid for an office building on a PSF basis.
- 1211 Avenue of the Americas (2006, 2016) – Sold to Beacon for $1.55 billion and in 2016 recapitalized with Ivanhoe Cambridge at a $1.75 billion valuation.
- 787 Seventh Avenue (2016) – Sold for $1.95 billion to Calpers / Commonwealth for AXA Equitable Life.
- 10 Hudson Yards (2016) – Led the complex $2.2 billion recapitalization of 10 Hudson Yards with Allianz buying a 44% joint venture interest from Coach, JPMorgan, and Related.
- 1515 Broadway (2017) – Sold a 43% interest in the trophy mixed-use asset in the heart of the Times Square Bowtie to Allianz for SL Green at a total valuation of $1.95 billion.
- 1 Liberty Plaza (2017) – Partnered Blackstone with Brookfield in a 49% / 51% joint venture of the 2.2 million square foot building at $660 PSF, a high watermark for the Downtown Manhattan submarket.
- Starrett City (2018) – Arranged the sale and subsequent 2021 recapitalization of Starrett City / Spring Creek Towers, the largest federally subsidized rental housing development in the United States. The 5,881-unit, 150-acre complex was purchased for $905 MM by a partnership of Brooksville / Rockpoint.
- Milk Building / 450 West 15th Street (1996, 2004, 2008, 2013, 2019) – Sold this marquee meatpacking building a record five times, the latest in 2019 to Google for $2,000/PSF or $600 million.
- 711 Fifth Avenue (The Coca-Cola Building) (2019) – Led the $910 million sale of the boutique office and retail asset on behalf of The Coca-Cola Company. This sale represents the first time the property had ever been offered to the market.
- 30 Hudson Yards (2019) – Sold at a $2.155 billion price tag this sale marked the largest single sale leaseback in history.
- Board Member, New York Stage and Film Company
- Advisory Board Member, Caravel Management, LLC
- Member, World Resource Institute’s Global Leadership Council
Harmon graduated from Brown University with a Bachelor of Arts and later earned an MBA from the Anderson School of Management at UCLA.