Properties Include 740 Broadway, 2-20 Astor Place and 440 Lafayette

Newmark Holdings, a vertically integrated owner, operator, property manager and developer of commercial real estate,today announced the closing of a $120-million loan transaction with BNY Mellon and TD Bank for a three-building, 390,000-square-foot office portfolio. The properties include 740 Broadway, 2-20 Astor Place and 440 Lafayette.

The announcement was made by Co-Principals Eric Gural and Brian Steinwurtzel of Newmark Holdings.

“We spoke with various lenders about this refinancing that included other banks, pension funds and insurance companies, but the superior terms that BNY Mellon and TD offered combined with the strong relationship and certainty of execution ultimately made the decision very easy, said Mr. Gural.

“We were able to secure a historically low fixed rate of 3.01% for 10 years in a volatile lending environment,” said Paul Talbot, Senior Managing Director, who represented Newmark Holdings on the loan.

The properties are currently over 93% leased with a roster of prominent tenants that includes New York University, Walgreens and L2 Inc. The new loan replaces the existing financingheld by Mid-First & Amalgamated Bank that totaled approximately $53 million and was originated on April 2008. This is the third loan completed with TD Bank and the second with BNY Mellon in the past 12 months.

Newmark Holdings is among the top five private owners of office and industrial property in New York City, with more than 45 buildings in the portfolio. In addition, Newmark Holdings serves as third-party property manager for owners in New York, and manages more than 13 million square feet of space for its own account and for its clients.

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.