Newmark Knight Frank (NKF) is pleased to announce that it has successfully negotiated a new, 126,427-square-foot lease on behalf of The New York Times Company at its 620 Eighth Avenue headquarters. The NKF team of Executive Managing Director Andrew Sachs, Senior Managing Director Bill Levitsky and Senior Managing Director Ben Shapiro represented The New York Times Company in the transaction, while the tenant, Liquidnet Holdings, Inc. (Liquidnet) was represented by JLL Vice Chairman Mitchell Konsker and Managing Director David Dusek.
Liquidnet is a global electronic trading network which facilitates connections between asset managers and liquidity in dark pool markets. The financial firm is relocating from 498 Seventh Avenue, shifting the company’s headquarters presence northwest from its former location. As The New York Times Company continues the development of its digital platform, it is evolving its workplace standards to make more efficient use of the space it occupies in the building and is in the final stages of re-stacking its occupancy in 620 Eighth Avenue, thereby creating the available space for Liquidnet.
“Liquidnet’s commitment to The New York Times Building continues the trend of companies migrating to new construction with amenities and superior transportation on the West Side, and bodes well for the remaining 60,000 square feet of available office space on the entire 10th and 11th floors” said Sachs. Asking rents in the building are $78 per square foot.
Built in 2007, the tower was designed by Renzo Piano Building Workshop and FXFOWLE Architects, with Gensler providing interior design. 620 Eighth Avenue features floor-to-ceiling glass, a unique lighting design and a flexible underfloor HVAC system. The design incorporates numerous environmentally sustainable features for increased energy efficiency.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc., is one of the world's leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and NKF Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
