Grubb & Ellis | The Real Deal New York

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Grubb & Ellis

New York, NY

Grubb & Ellis was a commercial real estate brokerage and advisory firm dating from 1958, with a New York City presence since 1985. It was acquired in April 2012 by BGC Partners, a wing of Cantor Fitzgerald, and was folded into a one-time rival. At the time of the acquisition, Grubb & Ellis had a New York regional staff of 1,000, including debt and equity experts; financial analysts; and appraisers. They worked out of five offices, including the regional headquarters at 125 Park Avenue; and the firm managed more than 36 million square feet of commercial space in the New York City area. The has been integrated with the old Newmark Knight Frank, the commercial brokerage and advisory firm acquired by Cantor Fitzgerald in 2011.

Much of Grubb & Ellis regional work had come from outside the city, including in Westchester County and Connecticut; and the firm for a long while struggled to gain a significant workload in prime Manhattan, even filing for bankruptcy protection in February 2012. Cantor Fitzgerald was able to acquire its assets through the bankruptcy filing for the relative bargain price of $51 million.

The new firm is called Newmark Grubb Knight Frank. Cantor Fitzgerald C.E.O. Howard Lutnick has said the firm will roll out by the end of 2012 property derivatives pegged to rents in individual buildings so landlords and tenants can hedge against unexpected market volatility.

-TA


05/24/17
Newmark Grubb Knight Frank will save this and other publications some ink by shortening its name. The New York-based brokerage is dropping the Grubb and...

08/15/16
Billionaire Andrew Farkas has called it quits with his second wife, Sandi. Farkas, founder of Island Capital Group, divorced Sandi earlier this year, Page Six reported....

UPDATED: Aug. 1, 6:14 p.m.: What do George Washington, rapper Lil Wayne and actor Jeff Goldblum have in common? They all appeared earlier this year...

02/03/16
What’s in a name, Shakespeare once asked, and Newmark Grubb Knight Frank is now contemplating whether a new moniker would smell as sweet. Owned by...

09/10/15
Crowdsourced leasing database CompStak launched a new on-demand service, signaling a major shift in strategy aimed at winning over more customers and catching up with...

David Bensoussan will head Eastern Union Funding’s capital markets division, headquartered at 641 Lexington Avenue, the Brooklyn mortgage brokerage’s first office in Manhattan. Long established...

The number of tenant-only boutique office leasing firms in Manhattan has grown over the last few years, a trend opposite the wave of consolidation seen...

It didn’t take Brett White long. As soon as his non-compete clause expired last March, CBRE’s former CEO publicly took on his former employer about...

07/01/15
JLL broker Sean Black is joining Cushman & Wakefield in a move the latter brokerage hopes will boost its business with tech and creative firms in...

Jed Garfield is the owner of Leslie J. Garfield Real Estate, the residential townhouse-focused brokerage founded by his father in 1972. Garfield has personally sold...

The real estate crowdfunding platform Fundrise recently posted an unusual offering on its website. The opportunity involved a chance to invest in a residential property...

They’ve brokered billions of dollars in deals, broken records, and launched companies. And they’ve all done it all in a cutthroat and unforgiving industry that’s...

Howard Lutnick was thrust onto the national stage when the Sept. 11 attacks killed 658 of his employees, including his brother. The Cantor Fitzgerald CEO...

The global commercial real estate industry may be consolidating, but in a twist, New York City’s “Big Four” commercial brokerages — CBRE, Cushman & Wakefield,...

Lining a windowsill in Anthony Orso’s office at Cantor Commercial Real Estate are dozens of statuettes — deal toys, he calls them — one for...

11/17/14
CompStak, a real estate data firm that tapped into crowdsourcing to start a marketplace of lease “comps,” has raised $4.4 million in its latest funding...

It takes time to earn your chops in New York real estate. The learning curve is steep, and the market demands both skills and connections....

The Chetrit Group sold 123 William Street to East End Capital and GreenOak Real Estate for $133 million in October. In January, the new owners...

01/27/14
UPDATED, 11:40 a.m., January 27: Newmark Grubb Knight Frank’s chief executive officer Barry Gosin believes that the firm can be among the country’s top three...

James Kuhn is president of the commercial brokerage Newmark Grubb Knight Frank. He joined Newmark & Company Real Estate in 1992, after 15 years of...

12/31/13
In some ways, 2013 was a watershed year for the New York City real estate industry, between the half dozen or so office towers that...

12/16/13
Billionaire investor Andrew Farkas’ latest venture, NAI Global, which controls more than 200 commercial brokerages around the world, is reducing its New York City presence...

Building a commercial brokerage business in New York City is a slow, patient game. Success, real estate executives say, is measured in years, not months....

Compared to other major New York City industries, real estate is notoriously slow to innovate. A conservative business dominated for decades by the same handful...

06/05/13
As institutional players such as pension funds and sovereign wealth funds increasingly lead the charge investing in the New York City real estate market, it’s...
  • Event Office Leasing
  • Address 110 West 40th Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 2,639
  • Price per foot $ 39.00
notes
The technology advisory firm signed a new lease.
  • Event Retail Leasing
  • Address 605 West 48th Street
  • Neighborhood Clinton
  • Borough Manhattan
  • Square feet 22,500
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 1 605 West 48th Street
  • Party 1 Brokerage Grubb & Ellis
  • Party 1 Broker Alan Weisman, David Cekolis, Stuart Siegel
  • Party 2 La Boom
  • Party 2 Brokerage Drew Tishman Enterprises
notes
The Latin night club signed a lease.
  • Event Office Leasing
  • Address 40 Wall Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 1,377
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 1 40 Wall Street
  • Party 2 Real Estate Resource Group
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Ilan Hoffman
notes
The real estate services firm signed a five-year lease.
  • Event Office Leasing
  • Address 40 Wall Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 1,377
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 1 40 Wall Street
  • Party 2 Real Estate Resource Group
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Ilan Hoffman
notes
The real estate services firm signed a five-year lease.
  • Event Office Leasing
  • Address 22 Cortlandt Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 126,000
notes
The credit union signed a new 15-year lease.
  • Event Office Leasing
  • Address 575 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 15,475
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 1 L'Oreal USA
  • Party 1 Brokerage CBRE
  • Party 1 Broker Jason Frazier
  • Party 2 Navillas Tile
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Daniel Woods
notes
The construction company signed a four-year sublease.
  • Event Office Leasing
  • Address 355 Lexington Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 5,500
notes
The digital media firm signed a two-and-a-half-year lease.
  • Event Office Leasing
  • Address 37-39 West 28th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 5,000
  • Publication Date 02/01/2012
  • Event Date 12/18/2011
  • Party 1 Rexton Realty Company
  • Party 2 Pencils of Promise
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Robert Yaffa, Wayne Van Aken
notes
The nonprofit signed a three-year lease.
  • Event Retail Leasing
  • Address 125 East 39th Street
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 4,545
notes
The vegan Japanese restaurant signed a 10-year lease.
  • Event Office Leasing
  • Address 875 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 4,348
  • Publication Date 02/01/2012
  • Event Date 12/23/2011
  • Party 1 Elan Pharmaceuticals
  • Party 2 Symphony Capital
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Barry Lewen
notes
The investment firm signed a sublease extension.
  • Event Office Leasing
  • Address 390 Broadway
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 6,000
notes
The advertising and design firm signed a 10-year lease.
  • Event Office Leasing
  • Address 390 Broadway
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 6,000
notes
The advertising and design firm signed a 10-year lease.
  • Event Office Leasing
  • Address 225 Varick Street
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 12,978
  • Publication Date 02/01/2012
  • Event Date 12/23/2011
  • Party 1 Trinity Church
  • Party 2 Optomen Productions
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Robert Yaffa, Wayne Van Aken
notes
The production company signed a 10-year lease.
  • Event Office Leasing
  • Address 22 Cortlandt Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 126,000
  • Publication Date 02/01/2012
  • Event Date 12/23/2011
  • Party 1 Mayore Estates
  • Party 1 Brokerage Grubb & Ellis
  • Party 1 Broker Barrett Stern
  • Party 2 Municipal Credit Union
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker S. Sehosel, Barry Rosner
notes
The financial services firm signed a 15-year lease renewal.
  • Event Office Leasing
  • Address 210 11th Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 2,338
  • Publication Date 02/01/2012
  • Event Date 12/23/2011
  • Party 1 Onbar
  • Party 2 Third Generation Art
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Stephen Siegel, David Cekolis
notes
The art gallery signed a five-year lease.
  • Event Office Leasing
  • Address 20 Broad Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 3,586
notes
The healthcare services firm signed a five-year lease.
  • Event Office Leasing
  • Building Name Tower 45
  • Address 120 West 45th Street
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 10,750
  • Publication Date 02/01/2012
  • Event Date 12/23/2011
  • Party 1 Pzena Investment Management
  • Party 2 Perimeter Internetworking
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Barry Lewen
notes
The e-security and technology firm signed a four-year sublease.
  • Event Office Leasing
  • Address 1001 Sixth Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 5,173
notes
The technology firm signed a five-year lease.
  • Event Retail Leasing
  • Address 2484 Adam Clayton Powell Boulevard
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Square feet 675
notes
The tax services firm signed a five-year retail lease.
  • Event Retail Leasing
  • Address 2236 Adam Clayton Powell Boulevard
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Square feet 760
notes
The pediatric speech therapy firm signed a five-year lease for retail space.
  • Event Retail Leasing
  • Address 1065 Park Avenue
  • Neighborhood Carnegie Hill
  • Borough Manhattan
  • Square feet 700
notes
The dog daycare center signed a retail lease.
  • Event Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 1,930
  • Publication Date 01/01/2012
  • Event Date 11/22/2011
  • Party 1 Metropolitan 885 Third Avenue Leasehold
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Scott Klau
  • Party 2 Galileo Investment Management
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Michael Mandel
notes
The financial services firm signed a five-year lease.
  • Event Office Leasing
  • Address 112 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 3,425
  • Publication Date 01/01/2012
  • Event Date 11/22/2011
  • Party 1 112 West 34th Street Company
  • Party 2 Taylor Consulting & Contracting
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Ira Rovitz
notes
The energy consulting firm signed a five-year lease.
  • Event Retail Leasing
  • Address 2039 Broadway
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 3,500
  • Publication Date 12/01/2011
  • Event Date 10/22/2011
  • Party 1 Brokerage Grubb & Ellis
  • Party 1 Broker Stan Lindenfeld
  • Party 2 Ricky's
  • Party 2 Brokerage Task Realty
notes
The accessories chain signed a lease for a pop-up store.
  • Event Retail Leasing
  • Address 77 West 68th Street
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 680
notes
The women's apparel firm signed a 15-year lease.
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