Lance S. Korman joined Newmark in 2000 at the firm’s Manhattan headquarters, became a partner in 2011, and currently serves as a Vice Chairman. He has negotiated leasing transactions in excess of $2.4 billion, cementing his reputation as a leader in tenant representation and complex real estate assignments.
As one of the most sought-after real estate advisors, Korman is primarily responsible for working with clients to expand or decrease their real estate requisites. He is particularly adept at discovering hidden site locations and spaces to meet his tenant’s specific real estate needs within the market, and sourcing information from market transaction data. Korman’s broadly diversified wealth of knowledge enables him to implement all facets of real estate services, from understanding the corporate perspective in the acquisition and disposition of real estate holdings, to leasehold condominium structures, logistics, cost-reduction analysis and strategic and tactical planning.
Korman, a 22-year commercial real estate advisor, is an expert negotiator and tenant advocate. He exclusively represents many corporate clients, servicing in finance, law, media and entertainment, public relations, fashion and apparel, biotech and technology.
Some of Korman’s high-profile transactions include:
- Northwell Health Systems (3,000,000 square feet)
- Morgan Stanley (1,200,000 square feet)
- New York City Health and Hospitals (525,000 square feet)
- Federation Employment Guidance Services (FEGS) (350,000 square feet)
- Wachtell, Lipton, Rosen & Katz (300,000 square feet)
- Theory (200,000 square feet)
- Israel Discount Bank (150,000 square feet)
- SONYMA (150,000 square feet)
- CBS Corporation (100,000 square feet)
- Hain Celestial (100,000 square feet)
- Roc Nation, LLC (100,000 square feet)
- Universal Music Group (a division of Vivendi Universal) (85,000 square feet)
- Sequential Brands Group (75,000 square feet)
- UJA Federation of New York (75,000 square feet)
- Oak Hill Advisors (70,000 square feet)
- LISC (60,000 square feet)
- Mizuho Capital Markets (60,000 square feet)
- Sean John/Bad Boy Records (60,000 square feet)
- AEG Live (a division of Anschutz Entertainment Group) (50,000 square feet)
- Child Mind Institute (50,000 square feet)
- Golub Capital (50,000 square feet)
- New York City Police Pension Fund (50,000 square feet)
- Phat Farm/Rush Communications (50,000 square feet)
- Sony Corp (50,000 square feet)
- The Kellwood Company (50,000 square feet)
- Creative Artist Agency (CAA) (40,000 square feet)
- Glenview Capital Management (40,000 square feet)
- Iconix Brand Group (35,000 square feet)
- Sentinel Capital (30,000 square feet)
- The Weinstein Company (30,000 square feet)
- Grubman Indursky & Shire P.C. (25,000 square feet)
- The Shubert Organization (25,000 square feet)
- Birthright Israel Foundation (20,000 square feet)
- Nederlander Organization (20,000 square feet)
- Ovarian Cancer Research Alliance (10,000 square feet)
Many of Korman’s transactions are acclaimed in numerous noteworthy publications, such as The New York Post, The New York Times, The Wall Street Journal, The Commercial Observer, The Real Deal, Real Estate Weekly, and Crain’s New York Business.
Awards
2019 – “Henry Hart Rice Achievement Award for Most Ingenious Deal of the Year” from The Real Estate Board of New York (REBNY) for “Prescription for Healthy Savings for New York City Health and Hospitals” lease for 526,552 square feet at 50 Water Street
2019 – “Distinctive Deal Award” from Newmark for New York City Health and Hospitals
2019 – “Double Header” from SL Green Realty Corp
2017 – “Creating Value Award” from SL Green Realty Corp
2012 – Association for a Better Long Island and the Commercial Industrial Brokers Society’s Most Ingenious Deal of the Year for the Hain Celestial Group, Inc. international headquarters relocation transaction
2011 – “Broker of the Year Award” from Newmark
2009 – Korman accepted the Commercial Brokerage Firm of the Year Award at the annual Mann Foundation Dinner on behalf of the Newmark and Waterman/Korman team
2007 – Newmark recognized Korman on an international and national platform as one of the leading real estate advisors within the entire firm
2005 – Newmark nominated Korman with the Real Estate Board of New York for the “Most Ingenious Retail Deal of the Year Award” for AEG Live Nokia Theatre concert venue at 1515 Broadway
2004 – Newmark nominated Korman with the Real Estate Board of New York for the “Most Ingenious Office Deal of the Year Award,” as well as for Newmark’s “Most Creative Deal of the Year Award” for his work with Sean Puffy Combs Enterprises at 1710 Broadway
2003, 2004, 2005 – Newmark nominated Korman for three consecutive years with the Real Estate Board of New York for the “Most Promising Commercial Salesperson of the Year Award”
2004 – “Most Creative Green Deal Award” from SL Green Realty Corp
2003 – “Most Industrious Green Deal Award” from SL Green Realty Corp
2001 – “Young Broker of the Year Award” from Newmark
Newmark Chairman’s Circle, which honors the Top 100 producing brokers for the company globally, recognized Korman’s accomplishments based on his 2016, 2017, 2018, 2019 and 2020 transaction productions.
In addition to the above, Korman has received the New York City Power Broker Office Leasing Transactions award for being ranked among New York City’s Top Brokers by CoStar Group based on his 2009, 2010, 2012, 2017 and 2018 office leasing transaction volume.
Affiliations and Memberships
Korman is a member of REBNY. He is also involved in and supports causes associated with The New Renaissance Basketball Association (The Rens), Friends of the Israel Defense Forces (FIDF), Chabad of the Upper East Side and Chabad of the Hamptons, Child Mind Institute and Food Allergy Research & Education (FARE). Korman devotes a substantial amount of his time to these organizations, playing an active role in event planning and fundraising.
Education
Korman holds a Bachelor of Science degree in Business Administration with a Business Law concentration from the Questrom School of Business (formerly, the Boston University School of Management). He also attended the NYU School Stern of Business. Korman currently attends classes at the New York Real Estate Institute, remaining well versed in the rapidly evolving industry.