Newmark

Summary
Newmark Group, Inc. provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services. Its occupier services and products comprise tenant representation; real estate management technology systems; workplace and occupancy strategy; global corporate consulting; project management; account and transaction management; and lease administration and facilities management services. The company provides its services to commercial real estate tenants, investors, owners, occupiers, and developers, as well as lenders and multi-national corporations. As of December 31, 2021, it operated approximately 160 offices on four continents. The company was formerly known as Newmark Knight Frank and changed its name to Newmark Group, Inc. in October 2017. Newmark Group, Inc. was founded in 1929 and is based in New York, New York.

History

Early years

Newmark was founded in 1929 in Manhattan by Dave Newmark.In 1953, Aaron Gural joined Newmark & Company as a real estate broker, later purchasing the company in 1956 with partners. Gural served as Chairman of Newmark & Company from 1957 to 1998.

Under Gural's leadership, Newmark began acquiring properties throughout Manhattan starting with 230 Fifth Avenue. Other notable property acquisitions during this time included the Film Center Building at 630 Ninth Avenue and the historic DuMont building at 515 Madison Avenue. Gural became known as one of the first real estate executives to see the potential for restoring West Side industrial sites and abandoned lofts in the Garment District.In 1978, Aaron Gural's son, Jeffrey Gural, and Barry Gosin took ownership of the company.Throughout the late 1980s, in response to a lull in New York City's real estate market, Gosin began building Newmark’s brokerage and advisory division. Gosin would later tell The New York Times that it was Newmark's unique combination of being a brokerage firm and having a significant investment portfolio that set the firm apart in the industry.

In 1992, James Kuhn joined Newmark as President after serving as the owner/manager of the Mendik Company, where he oversaw the acquisition of 11 million square feet of office space and 6,000 apartments.Throughout the 1990s, Newmark continued to expand its property holdings, including through the purchase of New York's Flatiron Building beginning in 1997. In the late 1990s, the firm grew beyond its basic leasing and management operation by expanding its corporate services division.

2001 to present

In 2001, Newmark invested in national appraiser Koeppel Tener Real Estate Services, founded by Alfred J. Koeppel. In 2006, Newmark formed a partnership with London-based real estate firm Knight Frank becoming Newmark Knight Frank.

In October 2011, BGC Partners, Inc., an American global financial services company based in New York City, acquired Newmark. With the acquisition, Howard W. Lutnick, Chairman and Chief Executive Officer of BGC, became Chairman of Newmark, with Gosin, who had previously served on BGC's Board of Directors, remaining as Newmark's CEO and Jeff Gural as Chairman Emeritus.

In April 2012, BGC Partners acquired assets of commercial real estate brokerage Grubb & Ellis, founded in 1958 by Donald Sr. & John Grubb & Harold Ellis, to form Newmark Grubb Knight Frank .Newmark announced an expansion in South America in 2014 through partnerships in Argentina, Brazil, Colombia, Chile and Peru. According to Newmark, the firm currently operates in Argentina, Brazil, Colombia, Costa Rica, Mexico, Panama, and Puerto Rico.On December 15, 2017, Newmark listed on the Nasdaq stock exchange.In October 2020, Newmark Knight Frank formally rebranded to Newmark.On June 2, 2021, The Washington Post reported that The Trump Organization had hired Newmark to sell its lease to the Trump International Hotel in Washington, DC. "A representative of Newmark Group declined to comment", the Post said.


Mission
We transform untapped potential into limitless opportunity.

Vision
Our vision is to be the premier global provider of integrated real estate solutions.

Key Team

Mr. Stephen Marcus Merkel (Exec. VP, Chief Legal Officer & Assistant Corp. Sec.)

Mr. James D. Kuhn FRICS (Pres & Head of Investor Services)

Mr. Sridhar Potineni (Chief Information Officer)

Mr. Jason A. McGruder (Head of Investor Relations)

Mr. Roger Ethan Anscher J.D. (Chief Admin. Officer)

Ms. Karen Laureano-Rikardsen (Chief Communications Officer)

Mr. Jason Edward Harbes (VP of Investor Relations)


Recognition and Awards
Newmark has been honored with many prestigious awards over the years, including being twice named a J.D. Power and Associates “Customer Service Champion” and being named one of the “Best Places to Work” by Crain’s New York Business for the past four years. Additionally, Newmark was awarded the “Outstanding Organization of the Year” award from the National Association of Industrial and Office Properties, as well as being named a “Best for Vets” employer by Military Times.

References
Newmark
Leadership team

Mr. Howard W. Lutnick (Chairman & PEO)

Mr. Barry M. Gosin (Chief Exec. Officer)

Mr. Michael J. Rispoli CPA (Chief Financial Officer)

Products/ Services
Advice, Commercial Real Estate, Consulting, Leasing, Property Management, Real Estate
Number of Employees
1,000 - 20,000
Headquarters
New York, New York, United States
Established
1929
Company Registration
SEC CIK number: 0001690680
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
NMRK
Social Media
Fri Mar 01 2024
About

businessabc offers a global business, SMEs wiki directory blockchain, NFTs, AI powered marketplace for businesses worldwide.

Follow Us
Produced by
In collaboration with
Logo

Copyright 2023 © businessabc powered by ztudium