Newmark Holdings

43-01 22nd Street

New Owners Plan Partial Office Conversion at Six-Story, 225,000-Square-Foot Industrial Property, 43-01 22nd Street, Long Island City

Back in May, Olmstead Properties and Newmark Holdings entered into contract to purchase the six-story, 225,000-square-foot manufacturing building at 43-01 22nd Street, located on the corners of 43rd and 44th avenues in the heart of Long Island City. The duo have now closed on the purchase for $61 million, Commercial Observer reported. They plan to convert the structure into office space, although roughly two-thirds of the property is currently leased to Reis Studios. The vacant portions are expected to be converted soon, but it’s not known when the currently leased space will get the conversion. Upgrades to the building will include a redesigned lobby, new windows and façade elements, and new mechanical infrastructure such as elevators.


43-01 22nd Street

New Owners to Renovate Six-Story, 225,000-Square-Foot Commercial Building at 43-01 22nd Street, Long Island City

Olmstead Properties and Newmark Holdings are in contract to acquire the six-story, 225,000-square-foot commercial building at 43-01 22nd Street, in the Queens Plaza/Court Square section of Long Island City. The building currently houses office and design spaces, with Reis Studios, Concept Press, and interior designer Christian Liaigre leasing space at the property. The building is expected to trade hands for more than $60 million, according to Commercial Observer. The new owners plan to renovate the building by upgrading the lobby and replacing the windows and elevators. Roughly 50,000 square feet of commercial space is currently available.


40 Exchange Place

20-Story Office Building At 40 Exchange Place To Get Renovations & Retail Space, Financial District

Newmark Holdings and Northwind Group have purchased the 20-story office building at 40 Exchange Place, in the Financial District, for $115 million, according to Crain’s. They plan to renovate the property to accommodate small to mid-sized office tenants. Renovations will include significant changes to the lobby and the building’s common spaces, as well as the addition of retail space on the ground floor. Natixis Real Estate provided a $65 million acquisition loan and a $16.5 million construction loan.


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