Recent Leasing at Mixed-Use Property Totals 22,200 Square Feet

Newmark Holdings, a vertically integrated owner, operator, property manager and developer of commercial real estate, announced that renowned architectural firm Pelli Clarke Pelli Architects renewed its lease for 11,100 square feet at 322 Eighth Avenue, while Young Women’s Leadership Network (YWLN) renewed its 7,000 square-foot lease and expanded for another 4,100square feet. The 21-story, 175,000-square-foot, mixed-use building is located in the heart of Chelsea.

The announcement was made by co-CEOs Eric Gural and Brian Steinwurtzel of Newmark Holdings. Allen Gurevich represented Newmark Holdingsin the transactions. Michael McKennaof Cresa New York acted on behalf of Pelli Clarke Pelli and Brian Dooley of CBRE along with Alan Grossmanof ARG Realty Consultants, Ltd. represented Young Women’s Leadership Network.

From the World Financial Center in New York to the Petronas Towers in Malaysia and the International Finance Centre in Hong Kong, Pelli Clarke Pellihas designed many prestigious projects. Its portfolio includes retail and mixed-use projects, academic buildings, libraries, museums, research centers, residences and master plans.

YWLN is an organization that operates The Young Women's Leadership Schools (TYWLS), a network of all-girls public schools, and CollegeBound Initiative (CBI), a co-ed college access program, that empowers students to break the cycle of poverty through education.

“It’s not surprising to see this kind of commitment at 322 Eighth Avenue, which is indicative of the ownership’s continued investment in the asset,” noted Mr.Gurevich. “The Eighth Avenue corridor has become incredibly popular, with new developments, hotels and luxury residential buildings cropping up almost weekly, which has fueled interest in the area and the property.”

Newmark Holdings recently completeda $4 million capital improvement program to redesign the façade of the first two stories of the building, which resulted in a cohesive glass storefront. The main entrance has also been enhanced with a sculptural canopy.

The building, which houses such notable tenants as JUICE Pharma Worldwide, The Nature Conservancy and KlimentHalsband Architects, is located in close proximity to Penn Station and the surrounding subway lines.

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 13 million square feet of commercial properties throughout New York City.