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


06/02/11
...Avison Young announced it hired four brokers from Grubb & Ellis...

09/01/10
...a concentration in the Northern New Jersey market. Grubb & Ellis Michael Rispoli was named executive vice president and will continue to serve in his...

01/08/10
...according to Robert Bach, a chief economist for Grubb & Ellis. “The financial crisis hit New York hard, which is why it’s down so...

03/23/09
...go in the last few months, according to Grubb & Ellis New York...
  • 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 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 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 22 Cortlandt Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 126,000
notes
The credit union signed a new 15-year 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 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 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 1001 Sixth Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 5,173
notes
The technology firm signed a five-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 390 Broadway
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 6,000
notes
The advertising and design firm signed a 10-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 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
  • Address 22 Cortlandt Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 126,000
notes
The financial services firm signed a 15-year lease renewal.
  • 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 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 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 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 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 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 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 Office Leasing
  • Address 885 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 1,930
notes
The financial services firm signed a five-year lease.
  • 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 112 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 3,425
notes
The utility management firm signed a lease on the 15th floor.
  • 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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