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Newmark Knight Frank Awarded Sale of 45 Beekman Street

New York, NY (09/05/2019)

10:00 AM

Global commercial real estate advisory firm Newmark Knight Frank (NKF) is pleased to announce that it has been awarded the exclusive assignment for the sale of 45 Beekman Street, an 11,079-square-foot, mixed-use building with eight free market apartments and a ground floor retail space. The asking price for the building is $12.5 million. Executive Managing Director Ron Solarz and Associates Jonny Yuran of NKF are representing the building's owner.

45 Beekman Street presents potential investors with the unique opportunity to acquire this mixed-use retail and residential building in the Financial District. The building also falls under tax class 2B, a protected class.

The approximately 2,000 square feet of ground floor commercial space are currently leased through 2027 by the highly-acclaimed Italian restaurant Sola Lab, operated by a Michelin-starred chef. The eight residential apartment units in the five-story, walk-up building, a mix of loft and penthouse duplex style living, are all currently rented free market units. The interiors of the residential units offer marble tiles and new fixtures in the bathrooms, with modern concept living room and kitchen areas, high ceilings and extra-large windows, giving each space great natural light.

Located in the Financial District, 45 Beekman is two blocks from the Fulton Street subway station and four blocks from the 4, 5, J, and Z train stations, offering multiple transit options. The location also boasts convenient proximity to the South Street Seaport, Pace University, Lower Manhattan employment centers and One World Trade.

"45 Beekman Street is a highly desirable asset in Lower Manhattan - an increasingly popular area of the city to both live and work," said Solarz. "The property has the added appeal of being 100% free market, giving investors a great deal of flexibility."

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark Group") (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF's investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. 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. For further information, visit www.ngkf.com.

Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group 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 Group 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 Group'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.