Newmark Knight Frank to manage Rosen Group office portfolio

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.

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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.

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]