Newmark takes on Brooklyn market with dedicated outpost

Firm taps CushWake veteran Whitten Morris to lead office in borough

New York /
Sep.September 23, 2015 09:01 AM

Newmark Grubb Knight Frank will open an office-leasing branch in Brooklyn, with DoBro and Dumbo the most likely locations. Whitten Morris, formerly of Cushman & Wakefield, will take charge of the new office.

Newmark would be the first major commercial firm to set up a leasing shop in the borough. Cushman inherited a Brooklyn office when it purchased Massey Knakal, but that office is dedicated to sales.

“We wanted to be there and be the first to open an office, and I think we’ll be the dominant player,” David Falk, Newmark’s New York area president, told Crain’s. “We think there’s an opportunity for a brokerage firm that understands the way business is done in Manhattan to bring that sophistication and market knowledge to Brooklyn.”

Where new office development goes, the city’s big commercial real estate service companies follow, even if it means crossing the East River.

The move highlights the burst of activity in Brooklyn’s office development market, with major projects like Industry City and the Brooklyn Naval Yard redevelopment in the pipeline. [Crain’s]Ariel Stulberg


Related Articles

arrow_forward_ios
The Wonder Wheel in Coney Island (Getty)
Coney Island Wonder Wheel reopens
Coney Island Wonder Wheel reopens
Brooklyn saw increases in prices, sales and inventory. (Getty, Two Trees)
Brooklyn’s median sales price hit record high in Q1
Brooklyn’s median sales price hit record high in Q1
1209 Dekalb Avenue in Brooklyn. (iStock, Kutnicki Bernstein Architects)
Industry suffers setback in 421a class action suit
Industry suffers setback in 421a class action suit
1 Grand Army Plz #12C (Compass, Google Maps)
Brooklyn’s luxury market cooled last week
Brooklyn’s luxury market cooled last week
The price gap between median rent in Manhattan and Brooklyn shrank to $171 in November 2020. (iStock)
Brooklyn rents have nearly caught up with Manhattan’s
Brooklyn rents have nearly caught up with Manhattan’s
489 Henry Street tops the list of last week's priciest Brookyln contracts. (Compass)
Brooklyn sees huge boom in luxury contracts signed
Brooklyn sees huge boom in luxury contracts signed
City Councilmember Carlos Menchaca and Red Hook (iStock, Getty)
Red Hook residents sound alarm over influx of last-mile facilities
Red Hook residents sound alarm over influx of last-mile facilities
Lightstone Group CEO Mitchell Hochberg and Marriott International CEO Anthony Capuano with a rendering of The Moxy Williamsburg (Getty, Lightstone, iStock)
Marriott, Lightstone Group bet on hotel recovery
Marriott, Lightstone Group bet on hotel recovery
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...