Newmark announced the promotion of Matthew T. Leon, a 12-year veteran of the firm, to executive managing director. Leon, formerly a senior managing director, will head a group of commercial real estate professionals representing both tenants and landlords. His agency clients include the award-winning Carnegie Hall Tower and other properties in a one-million-square-foot office portfolio owned by TF Cornerstone.
“Matt Leon exemplifies the high caliber of senior brokers at Newmark,” says David Falk, the firm’s president for the New York Tri-State region. “It is rewarding to know that we were able to help him transition from the practice of law into what has become a fast-growing career in commercial brokerage.”
A 1994 doctoral graduate of Brooklyn Law School, Leon worked for seven years as a real estate attorney at firms such as Fried, Frank, Harris, Shriver & Jacobson before joining Newmark in 1999 as senior legal counsel. He transitioned to brokerage in January 2001.
As a broker, Leon has heaped success upon success. His strategic work with tenants at Carnegie Hall Tower and 645 Madison Avenue, beginning years before leases are scheduled to expire, has helped to maintain occupancy rates of 98% or better.
“Too many brokers, tenants and owners lock a lease away, only to open the file a year before its scheduled expiration,” observes Leon, who prefers continual contact to ensure that all parties remain updated, in real time, as to each party’s needs both short term and as projected out. “Constant communication is best.”
“TF Cornerstone is a partner that fully engages and appreciates the benefits of maintaining terrific assets and embracing its tenants,” Leon says. “Ultimately, tenants and their love for their building is the best marketing tool we have. Our tenants are our ambassadors.”
On the tenant advocacy side, Leon recently helped Six Flags Entertainment Corp. achieve a 35% savings in occupancy costs by disavowing an existing, above-market lease as part of an on-going bankruptcy proceeding, enabling the company to move into a new turn-key, full-floor at 230 Park Avenue.
Leon prides himself on being a strategic real estate advisor with a long-term outlook, helping to shape business objectives and serving as a single point of contact for each phase in a real estate transaction. “I strive to align the long-term interests of both the owner and the tenant to create a ‘win-win’ scenario,” Leon says. “I never get caught up in a single transaction at the expense of a relationship that will stand the test of time.”
In his new capacity, Leon will direct his team in coordinating an overhaul of 387 Park Avenue South. TF Cornerstone has retained Moed de Armas & Shannon Architects for the multimillion-dollar large scale renovation of the office building’s entrances, lobbies, elevators, mechanicals and façade.
“This is a dynamic project I couldn’t be more excited about bringing to the market in the coming months,” Leon, adds. “Park Avenue South is red hot and the new 387 will be a destination address.”
Leon is admitted to practice law before the New York, New Jersey, Southern and Eastern District bars, and is a member of the Young Men’s/Women’s Real Estate Association of New York. He earned his bachelor’s degree from the University of Michigan, where he received Dean’s honors and the LBJ Congressional Internship Scholarship.
About Newmark
Newmark is one of the largest real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark is a part of BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage company primarily servicing the wholesale financial markets. For further information, visit www.bgcpartners.com.