Newmark Expands At SL Green’s 125 Park

Fresh off the announcement of a leadership shakeup, Newmark is expanding its New York headquarters.

The New York-based commercial real estate services company inked a fifteen-year renewal and expansion at SL Green Realty’s 125 Park Avenue. Newmark is taking an additional 31,000 square feet across the entire fourth floor of the landmarked building across from Grand Central Terminal, bringing its total footprint to just over 184,000 square feet. Asking rent was $70 per square foot, a company spokesperson said.

A Newmark team including Jason Perla and Brian Waterman represented their firm in the deal.

The 570,000-square-foot building between East 42nd and 41st streets is over 99 percent leased, according to an SL Green press release. Other tenants include camera and photocopier company Canon Solutions America, law firm of Meister, Seelig & Fein and Pandora Media.

The city included 125 Park on a list of 11 properties it landmarked in 2016 ahead of the Midtown East rezoning.

Newmark made news recently after Howard Lutnick stepped away from his role as chair last month after his appointment by President Donald Trump to lead the Commerce Department.

Barry Gosin, Newmark Group CEO and chairman of its operating company Newmark & Company Real Estate, is adding responsibilities to his plate, while Stephen Merkel was appointed as the chair of Newmark’s board of directors.