Newmark Knight Frank to manage Rosen Group office portfolio

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902 Broadway
The Rosen Group awarded Newmark Knight Frank leasing and management responsibilities for a portfolio of 19 Manhattan office buildings, Commercial Property Executive reported, including 902 Broadway in the Flatiron district.

In total, the 2 million-square-foot portfolio is 95 percent leased. NKF will work to reposition and renovate the properties in what will likely be a profitable venture for NKF, CPE speculated, as the office market is heating up. Through November of this year, positive net absorption totaled 5.2 million square feet in 2011.

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NKF’s Michael Moorin, a senior managing director, has a longstanding relationship with the Rosen family, which likely helped the commercial firm land this assignment, CPE said (note: correction appended). [CPE]