Newmark Group

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(Redirected from Newmark Knight Frank)
Newmark Group Inc.
TypePublic company
NasdaqNMRK (Class A)
Russell 2000 Index component
IndustryReal estate
Headquarters125 Park Avenue
New York City, U.S.
Number of locations
170 (2022)
Key people
Jeffrey Gural, Chairman Emeritus
Howard Lutnick, Chairman
Barry M. Gosin, CEO
James D. Kuhn, President
ServicesCapital Markets
Global Corporate Services
Industrial and Logistics Services
Landlord Representation
Property Management
Retail Services
Tenant Representation
Valuation & Advisory
RevenueIncrease $2.9 billion (2021)
Number of employees
6,500+ (2022)

Newmark Group Inc. is a commercial real estate advisory and services firm headquartered in New York City. It operates as Newmark, and is listed on the NASDAQ Global Select Market under the symbol "NMRK".[1]

The company’s services include Capital Markets, Global Corporate Services, Industrial and Logistics Services, Landlord Representation, Property Management, Retail Services, Tenant Representation and Valuation & Advisory.[2] According to Real Capital Analytics, Newmark was the third-largest investment broker in the Americas in 2020 measured by sell-side investment sales activity.[3] In its ‘Top 15 Most Powerful Brokerage Firms of 2021, Commercial Property Executive ranked Newmark 3rd.[4]


Early years[edit]

Newmark was founded in 1929[5][6] in Manhattan by Dave Newmark.[7][8]

In 1953, Aaron Gural joined Newmark & Company as a real estate broker, later purchasing the company in 1956 with partners.[9][10] Gural served as Chairman of Newmark & Company from 1957 to 1998.

Under Gural's leadership, Newmark began acquiring properties throughout Manhattan starting with 230 Fifth Avenue.[11] Other notable property acquisitions during this time included the Film Center Building at 630 Ninth Avenue and the historic DuMont building at 515 Madison Avenue.[12] Gural became known as one of the first real estate executives to see the potential for restoring West Side industrial sites and abandoned lofts in the Garment District.[13]

In 1978, Aaron Gural's son, Jeffrey Gural, and Barry Gosin took ownership of the company.[14]

Throughout the late 1980s, in response to a lull in New York City's real estate market, Gosin began building Newmark’s brokerage and advisory division.[15] Gosin would later tell The New York Times that it was Newmark's unique combination of being a brokerage firm and having a significant investment portfolio that set the firm apart in the industry.

In 1992, James Kuhn joined Newmark as President after serving as the owner/manager of the Mendik Company, where he oversaw the acquisition of 11 million square feet of office space and 6,000 apartments.[16]

Throughout the 1990s, Newmark continued to expand its property holdings, including through the purchase of New York's Flatiron Building beginning in 1997.[17] In the late 1990s, the firm grew beyond its basic leasing and management operation by expanding its corporate services division.[18]

2001 to present[edit]

In 2001, Newmark invested in national appraiser Koeppel Tener Real Estate Services, founded by Alfred J. Koeppel.[19] In 2006, Newmark formed a partnership with London-based real estate firm Knight Frank becoming Newmark Knight Frank.

In October 2011, BGC Partners, Inc., an American global financial services company based in New York City, acquired Newmark.[20] With the acquisition, Howard W. Lutnick, Chairman and Chief Executive Officer of BGC, became Chairman of Newmark, with Gosin, who had previously served on BGC's Board of Directors, remaining as Newmark's CEO and Jeff Gural as Chairman Emeritus.

In April 2012, BGC Partners acquired assets of commercial real estate brokerage Grubb & Ellis, founded in 1958 by Donald Sr. & John Grubb & Harold Ellis, to form Newmark Grubb Knight Frank (NGKF).[21][22]

Newmark announced an expansion in South America in 2014 through partnerships in Argentina, Brazil, Colombia, Chile and Peru.[23] According to Newmark, the firm currently operates in Argentina, Brazil, Colombia, Costa Rica, Mexico, Panama, and Puerto Rico.[24]

On December 15, 2017, Newmark listed on the Nasdaq stock exchange.[25]

In October 2020, Newmark Knight Frank formally rebranded to Newmark.[26]

On June 2, 2021, The Washington Post reported that The Trump Organization had hired Newmark to sell its lease to the Trump International Hotel in Washington, DC. "A representative of Newmark Group declined to comment", the Post said.

Acquisitions and Brands[edit]

Over the past decade, Newmark and its parent company BGC Partners, Inc. have expanded real estate services and geographic reach through the acquisition of companies in the United States and internationally. Newmark has acquired more than 55 companies since 2011.[27]

In 2022, Newmark acquired London-based real estate advisory firm BH2[28][29] and North American retail real estate advisory firms Open Realty Advisors and Open Realty Properties.[30][31] Also in 2022, Newmark acquired McCall & Almy, a Boston brokerage firm focused on tenant representation.[32] McCall & Almy’s longtime clients include Harvard University, Bose and Partners HealthCare System.[33]

In 2021, Newmark acquired two companies in the flexible office space: flexible workspace platform Knotel in March[34][35] and Paris-based Deskeo in October.[36] The Deskeo acquisition added over 50 locations to Newmark's international flexible office portfolio. In 2019, Newmark expanded its presence in the United Kingdom with the acquisition of Harper Dennis Hobbs, a retail real estate advisory firm based in London.[37][38] Also in 2019, Newmark acquired MiT National Land Services, a national title agency based in New York.[39]

In 2018, Newmark acquired corporate tenant representation real estate agency Jackson & Cooksey, based in Dallas, Texas,[40][41] and retail brokerage company RKF.[42]

In 2017, Newmark acquired Regency Capital Partners (RCP), a real estate capital advisory firm headquartered in San Francisco, California. RCP is known for financing for clients with extensive experience in joint ventures, construction debt and permanent financings across all property types, with a specific focus on structured debt and equity for large-scale office and multifamily developments.[43]  Also in 2017, Newmark’s parent company BGC Partners, Inc. acquired multi-family lending provider Berkeley Point Financial LLC from financial services firm Cantor Fitzgerald for $875 million.[44][45]

In 2016, Newmark acquired San Francisco-based CRE Group, a project management and construction management firm with a strong regional presence.[46] Also in 2016, Newmark acquired two companies in the multifamily sector: Rudesill-Para Multifamily, a brokerage firm in Tennessee,[47] and Walchle Lear, a brokerage firm based in Florida.[48]

In 2015, BGC Partners, Inc. acquired real estate consulting firm Computerized Facility Integration, LLC,[49] Excess Space Retail Services Inc.,[50] Also in 2015, Newmark acquired Cincinnati Commercial Real Estate, a commercial real estate firm in Cincinnati, Ohio,[51] and Steffner Commercial Real Estate, which operated as Newmark Grubb Memphis.[52] The Steffner Commercial Real Estate acquisition was part of Newmark's Mid-South growth plan for Tennessee, Kentucky, Mississippi, Alabama, Arkansas and Louisiana.

In 2014, Newmark acquired commercial services firm Cornish & Carey Commercial, based in northern California.[53][54] Also in 2014, BCG Partners, Inc. acquired Apartment Realty Advisors, one of the largest apartment building brokers in the U.S., for roughly $110 million.[55]  

In 2012, BGC Partners acquired the assets of commercial real estate brokerage Grubb & Ellis Company, merging it with Newmark to create Newmark Grubb Knight Frank (NGKF).[56]

Also in 2012, BGC Partners acquired Denver-based  Frederick Ross, a firm specializing in real estate brokerage, consultancy, advisory and investment services,[57] and Philadelphia-based Smith Mack, expanding Newmark’s brokerage and advisory services in Pennsylvania, Delaware and New Jersey.[58]

Awards and recognition[edit]

In 2021, Commercial Property Executive named Newmark third in its annual Top Commercial Real Estate Brokerage Firms ranking, following CBRE and Cushman & Wakefield.[59] The same ranking named Newmark second in Top 10 Firms in Sales and fifth in Top 10 Firms in Leasing.

Real Capital Analytics named Newmark the 3rd largest investment broker in the Americas in 2020 based on sell-side investment sales activity.[60]


In 2022, Newmark commercial real estate agents were sued by a client after they drastically mispriced an asset in a deal they brokered. The property, once owned by OCA - Asian Pacific American Advocates, a Washington, D.C.-based non-profit, was sold for $4.4 million. Four months later, the buyer resold the asset for a 30% increase. The non-profit claimed that it did not receive the full price for its property because of errors made by Newmark's agents.[61]

In 2018, the company was sued by an administrative assistant over sexual harassment claims. While working in the firm, she alleged suffering repeated sexual advances, which she rebuffed. She further claimed that when she raised the issue to human resources, she was terminated. In a statement, a Newmark spokesperson said "we have thoroughly investigated allegations made by a former employee and have determined them to be baseless."[62]

In 2017, a Newmark executive, Mike Arnold, was sued for sexual harassment. Arnold's lawyers sought disclosure of the victim's real name and dismissal of the case on procedural grounds. The victim claimed she was ogled and stalked, among other sexual harassment.[63]

See also[edit]


  1. ^ Bockmann, Rich (2017-11-01). "A wide open lane for commercial brokerage IPOs". The Real Deal. Retrieved 2022-02-09.
  2. ^ "Services". Newmark website. Retrieved 2022-02-11.
  3. ^ "RCA Names Top Global Commercial Property Brokers for 2020". Real Capital Analytics, Inc. 2021-03-16. Retrieved 2022-02-11.
  4. ^ "2021 Top Commercial Real Estate Brokerage Firms". Commercial Property Executive. 2021-06-03. Retrieved 2022-02-09.
  5. ^ "Newmark | TRD Research". TRD Research | Published by The Real Deal. 2019-03-19. Retrieved February 4, 2022.
  6. ^ "Newmark". Commercial Observer. Retrieved 2022-03-07.
  7. ^ REW (2020-10-19). "Newmark drops the Knight Frank". Real Estate Weekly. Retrieved 2022-03-07.
  8. ^ Gregor, Alison (2006-04-23). "Trained in Manhattan, Graduating to the World". The New York Times. ISSN 0362-4331. Retrieved 2022-03-07.
  9. ^ Hevesi, Dennis (2009-03-14). "Aaron Gural, Real Estate Executive, Dies at 91". The New York Times. ISSN 0362-4331. Retrieved 2022-03-07.
  10. ^ REW (2020-10-19). "Newmark drops the Knight Frank". Real Estate Weekly. Retrieved 2022-03-07.
  11. ^ "Newmark". Commercial Observer. Retrieved February 3, 2022.
  12. ^ Athavaley, Anjali (June 23, 2013). "Gural Scion on Fast Track". The Wall Street Journal. Retrieved February 3, 2022.
  13. ^ Hevesi, Dennis (2009-03-14). "Aaron Gural, Real Estate Executive, Dies at 91". The New York Times. ISSN 0362-4331. Retrieved 2022-03-07.
  14. ^ Gregor, Alison (2006-04-23). "Trained in Manhattan, Graduating to the World". The New York Times. ISSN 0362-4331. Retrieved 2022-03-07.
  15. ^ Gregor, Alison (April 23, 2006). "Trained in Manhattan, Graduating to the World". The New York Times. Retrieved March 7, 2022.
  16. ^ "James Kuhn Newmark | Newmark Grubb Knight Frank". The Real Deal New York. Retrieved 2022-03-07.
  17. ^ Garbarine, Rachel (June 30, 2004). "COMMERCIAL REAL ESTATE: REGIONAL MARKET -- Manhattan; Publisher Expands to Take Most of the Flatiron Building". The New York Times. Retrieved March 3, 2022.
  18. ^ Pincus, Adam (November 1, 2010). "Newmark's Class A play". The New York Times. The Real Deal. Retrieved March 3, 2022.
  19. ^ New York Post: "NEWMARK EYES BUY; REALTOR PLANS TO PUT $$ IN NATIONAL APPRAISER" By Lois Weiss July 3, 2001
  20. ^ Rusli, Evelyn M. (April 28, 2011). "BGC Partners Buys Newmark". DealBook. The New York Times. Retrieved February 27, 2022.
  21. ^ BGC Forms Newmark Grubb Knight Frank Upon Completing Acquisition of Assets of Grubb & Ellis Company.
  22. ^ Vincent, Roger (February 22, 2012). "Grubb & Ellis agrees to sale". Los Angeles Times. Retrieved February 23, 2022.
  23. ^ Melouney, Carmel (June 2, 2014). "Newmark Grubb Frank Knight Teams Up With Firms in South America". The Wall Street Journal. Retrieved February 24, 2022.
  24. ^ "Latin America". Newmark website. Retrieved March 3, 2022.
  25. ^ Bockman, Rich (December 15, 2017). "Newmark Lists on the Nasdaq". The Real Deal. Retrieved February 27, 2022.
  26. ^ "Newmark Drops the Knight Frank". Real Estate Weekly. October 19, 2020. Retrieved February 14, 2022.
  27. ^ "Newmark - Newmark Group, Inc. Reports Second Quarter 2022 Financial Results". Retrieved 2022-08-08.
  28. ^ "New York's Newmark Acquires Top London CRE Boutique BH2". Connect CRE. Retrieved 2022-06-17.
  29. ^ "Newmark acquires London real estate advisory firm | Seeking Alpha". Retrieved 2022-06-17.
  30. ^ May 03, Ingrid Tunberg |; PM, 2022 at 04:54. "Newmark Acquires Retail Advisory Business, Open Realty". GlobeSt. Retrieved 2022-06-17.
  31. ^ "Newmark acquires North American retail advisory business, Open Realty (NASDAQ:NMRK) | Seeking Alpha". Retrieved 2022-06-17.
  32. ^ "Newmark Acquires Boston Brokerage Firm McCall & Almy". Bisnow. Retrieved 2022-06-17.
  33. ^ "Newmark Acquires McCall & Almy". Commercial Property Executive. 2022-04-11. Retrieved 2022-06-17.
  34. ^ "Newmark Acquisition of Knotel Is Approved". The Real Deal National. 2021-03-19. Retrieved 2022-03-30.
  35. ^ Dyton, Joe (2021-03-25). "Court approves Newmark's acquisition of Knotel". Connected Real Estate Magazine. Retrieved 2022-02-28.
  36. ^ Shaikh, Niloofer. "Newmark acquires majority stake of the start-up Space Management, Deskeo | Seeking Alpha". Retrieved 2022-03-18.
  37. ^ McClary, Samantha (2019-12-20). "Harper Dennis Hobbs bought by US giant". EG Radius. Retrieved 2022-03-22.
  38. ^ Brown, Mariah (2019-12-20). "Newmark Group Acquires Retail Firm Harper Dennis Hobbs". GlobeSt. Retrieved 2022-03-22.
  39. ^ "MiT acquired by Newmark Knight Frank | News | The Title Report". Retrieved 2022-03-30.
  40. ^ Morphy, Erika (2018-06-29). "Newmark Is Buying Corporate Tenant Advisory Firm Jackson Cooksey". GlobeSt. Retrieved 2022-03-12.
  41. ^ Kezar, Korri (2019-06-29). "Dallas commercial brokerage acquired by New York real estate advisory firm". Dallas Business Journal. Retrieved 2022-03-12.
  42. ^ Gross, Max (2018-05-29). "Newmark Acquiring RKF for Undisclosed Price". Commercial Observer. Retrieved 2022-02-18.
  43. ^ Brown, Lisa (2017-02-16). "Capital Advisory Business Bolsters Capital Markets Platform". GlobeSt. Retrieved 2022-02-18.
  44. ^ "BGC Partners to buy Berkeley Point Financial for $875 million". Reuters. 2017-07-18. Retrieved 2022-03-30.
  45. ^ Bubny, Paul (2017-08-03). "Berkeley Point Deal Has Built-In Synergies with NKF". GlobeSt. Retrieved 2022-03-12.
  46. ^ Truong, Kevin (2016-06-20). "Newmark Grubb Knight Frank acquires CRE Group Inc". San Francisco Business Times. Retrieved 2022-02-18.
  47. ^ Nichols, Meagan (2016-03-17). "Newmark Grubb Knight Frank buys Memphis company". Memphis Business Journal. Retrieved 2022-02-18.
  48. ^ Gilliam, Derek (2017-01-03). "Jacksonville multifamily firm acquired by Newmark Grubb Knight Frank". Jacksonville Business Journal. Retrieved 2022-02-18.
  49. ^ "BGC Partners acquires real estate consulting firm CFI". Reuters. 2015-05-05. Retrieved 2022-03-14.
  50. ^ Baltic, Scott (2015-05-19). "NGKF's Newest Acquisition". Commercial Search. Retrieved 2022-03-18.
  51. ^ Demeropolis, Tom (2015-12-24). "One of the world's largest commercial real estate firms enters Cincinnati". Cincinnati Business Courier. Retrieved 2022-03-18.
  52. ^ Nichols, Meagan (2016-01-08). "Newmark Grubb Memphis acquired by global firm". Memphis Business Journal. Retrieved 2022-02-18.
  53. ^ Donato-Weinstein, Nathan (2014-08-14). "It's final: Cornish & Carey is now part of Newmark Grubb Knight Frank". Silicon Valley Business Journal. Retrieved 2022-03-12.
  54. ^ Slatin, Peter (2014-01-27). "Newmark CEO Bullish in Davos". The Wall Street Journal. ISSN 0099-9660. Retrieved 2022-03-30.
  55. ^ Grant, Peter (2014-12-08). "Newmark Grubb Knight Frank Gets Sales Boost". The Wall Street Journal. ISSN 0099-9660. Retrieved 2022-03-30.
  56. ^ Vincent, Roger (2012-02-22). "Grubb & Ellis agrees to sale". Los Angeles Times. Retrieved 2022-02-23.
  57. ^ Huspeni, Dennis (2013-01-02). "BGC buys out Frederick Ross Co". Denver Business Journal. Retrieved 2022-02-18.
  58. ^ "Newmark Grubb Knight Frank Parent, BGC Partners, Inc., acquires Smith Mack and Frederick Ross Company". NYRej. 2013-03-25. Retrieved 2022-02-18.
  59. ^ "2021 Top Commercial Real Estate Brokerage Firms". Commercial Property Executive. 2021-06-03. Retrieved 2022-04-07.
  60. ^ "RCA Names Top Global Commercial Property Brokers for 2020". Real Capital Analytics, Inc. 2021-03-16. Retrieved 2022-04-07.
  61. ^ Banister, Jon (March 9, 2022). "Asian American Organization Sues Newmark For $5.3M Over D.C. Property Sale". Bisnow. Retrieved March 9, 2022.
  62. ^ Brenzel, Kathryn (July 13, 2018). "NKF broker accused of sexual harassment by fired administrative assistant". The Real Deal. Retrieved March 9, 2022.
  63. ^ Clarke, Katherine (July 13, 2018). "Former Newmark Knight Frank exec Mike Arnold wants his sexual harassment accuser unmasked". The Real Deal. Retrieved March 9, 2022.

External links[edit]

  • Business data for Newmark Group Inc.: