Lance S. Korman joined Newmark in January 2000 to form a partnership with James D. Kuhn, president, and Brian S. Waterman, vice chairman, in their representation of office tenants and landlords in all of Manhattan’s commercial districts.
Mr. Korman is primarily responsible for canvassing the market place for prospective new clients interested in expanding or decreasing their real estate requisites. He is also responsible for discovering hidden site locations and spaces to meet his tenant’s specific real estate needs within the market, and collecting information from data on market transactions. Mr. Korman’s broadly diversified wealth of knowledge enables him to encompass all facets of real estate from the corporate perspective in the areas of the acquisition and disposition of real estate holdings, facilities management, project management, logistics, cost reduction analysis and strategic and tactical planning. His qualities have given him the ability to develop the comprehensive skills necessary to represent his clients’ best interests and successfully complete real estate transactions.
To date, Mr. Korman has negotiated leasing transactions in excess of 5 million square feet both on behalf of tenants and owners and he is one of the leading real estate advisors at Newmark. He has been the exclusive real estate advisor to many corporate service clients in industries such as finance, law, media and entertainment, public relations, fashion and apparel, biotech and technology. He has successfully satisfied the space requirements in negotiating leases for such prominent tenants as Mizuho Capital Markets (a division of Fuji Capital Bank); Neuberger Berman; Owl Creek Asset Management; Grubman Indursky & Shire P.C.; Federation Employment Guidance Services (FEGS); The Doe Fund; Keryx Biopharmaceuticals; AEG Live (a division of Anschutz Entertainment Group); The Weinstein Company; Universal Music Group (a division of Vivendi Universal); Sony Music Entertainment (a division of Sony America Corporation); Creative Artist Agency (CAA); Iconix Brand Group. Also, he has successfully completed leasing assignments on behalf of owners such as Vornado Realty Trust; Rockrose Development Corp.; Goldman Sachs/The Chetrit Group; W&H Properties.
Some of Mr. Korman’s notable strategic and tactical transactions on behalf of tenants include: Mizuho Capital Markets (60,000 rsf), Grubman Indursky & Shire P.C. (25,000 rsf), Federation Employment Guidance Services (FEGS) (350,000 rsf), AEG Live (a division of Anschutz Entertainment Group) (50,000 rsf), The Weinstein Company (30,000 rsf), Universal Music Group (a division of Vivendi Universal) (85,000 rsf), Creative Artist Agency (CAA) (40,000 rsf), Iconix Brand Group (35,000 rsf) and The Kellwood Company (50,000 rsf).
Some of Mr. Korman’s notable strategic and tactical transactions on behalf of owners include: Vornado Realty Trust (The Leasing of 731 Lexington Avenue) and Rockrose Development Corp. (the leasing of 152 West 57th Street).
Mr. Korman is a member of the Real Estate Board of New York (REBNY) and sits on the Young Committee Boards for the Federation Employment Guidance Services (FEGS), Israel Bonds, The Doe Fund, Lenox Hill Hospital and The Horace Mann School. He devotes a substantial amount of his time to these organizations playing an active role in event planning and fundraising.
In 2001, Mr. Korman received the “Young Broker of the Year Award” from Newmark. In 2003, he received the “Most Industrious Green Deal Award” from SL Green Realty Corp. and in 2004 he received the “Most Creative Green Deal Award” from SL Green Realty Corp.
Newmark nominated Mr. Korman for three consecutive years (2003; 2004; 2005) with the Real Estate Board of New York for the “Most Promising Commercial Sales Person of the Year Award.” In 2004, Newmark nominated Mr. Korman with the Real Estate Board of New York for the “Most Ingenious Office Deal of the Year Award” and in the same year he was also nominated within the company for the “Most Creative Deal of the Year Award”. In 2005, Newmark nominated Mr. Korman with the Real Estate Board of New York for the “Most Ingenious Retail Deal of the Year Award”.
In 2007, Mr. Korman was recognized on an international and national platform by Newmark as one of the leading, non-partner, producing real estate advisors within the entire firm.
In 2009, Mr. Korman accepted the Commercial Brokerage Firm of the Year Award at the annual Mann Foundation Dinner on behalf of the Newmark and the Waterman/Korman team.
In 2010, Mr. Korman received a 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 office leasing transaction volume.
Mr. Korman earned a Bachelor of Science degree from the School of Business Management at Boston University, with a concentration in economics and sales marketing. He also attended the masters of business administration program at New York University’s Stern School of Business. He currently attends classes at the New York University Real Estate Institute to remain educated on the constantly changing real estate environment.