Newmark Holdings & Northwind Group Announce Over 32,000 SF of Leasing at 40 Exchange Place

8/24/17

Newmark Holdings and Northwind Group announced today that they have recently signed 32,804 square feet of new leases at 40 Exchange Place, a 20-story, 300,000-square-foot office and retail building located in the heart of Manhattan’s Financial District, just steps from the New York Stock Exchange, the Fulton Street transportation hub and the World Trade Center complex.

The announcement was made by Newmark Holdings co-CEOs Brian Steinwurtzel and Eric Gural, and Northwind Group Managing Partner Ran Eliasaf. In all of the transactions, Allen Gurevich of Newmark Holdings represented the ownership. The transactions include the following:

  • A new 10-year, 27,000-square-foot-lease occupying space on the building’s fourth, eighth and thirteenth floors for Knotel, the network of custom locations that provides modern businesses with adaptable headquarters. Michael Morris and Gregory DiGioia at Newmark Knight Frank represented the tenant in the transaction.
  • A new 4,554-square-foot lease on the third floor of the building for January Digital, a digital marketing agency. The tenant was represented by Stephan Steiner of Savills Studley in the transaction.
  • A new 1,250-square-foot lease for a conference facility on the 13th floor with Breather, a provider of beautifully appointed and affordable workspaces and meeting rooms. Ramsey Feher and Zachary Price of CBREGroup acted on behalf of the tenant in the transaction.

“We are delighted that 40 Exchange Place continues to attract such prestigious occupants,” said Mr. Steinwurtzel. “Our continued capital improvements have positioned the building to outperform its competitive set by providing an exceptionally high-quality environment for our tenants and their employees.”

Mr. Eliasaf added, “We are excited to welcome these three tenants to the new and improved 40 Exchange Place. We invested significant capital that turned this property into a beautifully renovated modern office building in a great location.”

In November 2015, Newmark Holdings and Northwind Group acquired 40 Exchange Place and have since enacted a comprehensive capital improvement program for the property, which is still underway. Ownership has devotedmajor resources toward significantly improving all tenant spaces and building systems in the property, including a new lobby, common areas, elevator cabs, façade restoration, newstorefronts, roof, fire alarm, sprinklers, tenant HVAC systems and restrooms bringing the property to 21stCentury standards.

About Newmark Holdings

Newmark Holdings, led by Jeffrey Gural, Eric Gural and Brian Steinwurtzel, is a vertically integrated owner, operator, property manager and developer of commercial real estate with its 63-year-history of hands-on asset management and portfolio of more than 10 million square feet of commercial properties throughout New York City.

About Northwind Group

Northwind Group led by Ran Eliasaf, is a privately-owned Manhattan based owner/operator of value-added real estate properties predominantly in Manhattan. Northwind owns a diverse portfolio comprised of office, residential, retail and hospitality assets.

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