Newmark Facilitates Sale of 265 East 66th Street in Manhattan, New York City
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Sale Marks Third-Highest Price Paid Per-Unit in NYC Since 20211 for Buildings 100 Units or larger NEW YORK, Jan. 20, 2026 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ:NMRK) ("Newmark"), a leading commercial real
Original sourceAI Summary
Newmark Group, Inc. facilitated the sale of a luxury multifamily property in Manhattan with a valuation of approximately $1.35 million per unit, marking significant market activity. This development underlines the ongoing strength in the NYC real estate market, particularly for luxury properties, which may positively affect Newmark's future transactions and earnings potential.
Sentiment Rationale
Historically, significant transactions boost market confidence, leading to stock valuation increases. Similar past transactions have resulted in higher performance for NMRK.
Trading Thesis
Buy NMRK as real estate sales indicate strong market demand, leading to potential revenue growth.
Market-Moving
- High-profile property transactions may boost Newmark's reputation and business.
- Luxury multifamily segment's growth could lead to increased advisory fees for NMRK.
- Investor confidence in NYC real estate could translate to higher demand for NMRK's services.
- Such transactions signal market stability, benefiting NMRK's valuation outlook.
Key Facts
- Newmark facilitated a major multifamily property sale in NYC.
- The transaction valued the property at $1.35 million per unit.
- This sale marks the third-highest price per unit in NYC since 2021.
- GO REIT continues to manage the property post-sale.
- The sale reinforces the value of GO REIT's broader portfolio.
Companies Mentioned
- GO Residential Real Estate Investment Trust (GO REIT): GO REIT's strong portfolio underlines market strength, benefiting NMRK's credibility.
Corporate Developments
This news falls under 'Corporate Developments' as it highlights Newmark's strategic role in a significant transaction in the luxury real estate market. Such developments are crucial for investors looking to gauge the company’s market position and potential growth trajectory.
Sale Marks Third-Highest Price Paid Per-Unit in NYC Since 20211 for Buildings 100 Units or larger
NEW YORK, Jan. 20, 2026 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ:NMRK) ("Newmark"), a leading commercial real estate advisor and service provider to global corporations, institutional investors, and owners and occupiers, announces the Company has represented GO Residential Real Estate Investment Trust (GO REIT) in the sale of a significant stake in 265 East 66th Street, a luxury high-rise multifamily property located in Manhattan's Upper East Side. Newmark Co-Head of U.S. Capital Markets Adam Spies and Executive Vice Chairman Adam Doneger arranged the off-market transaction, which values the asset at approximately $1.35 million per unit, the third-highest rate paid for a multifamily property of 100 units or more over the past five years1.
265 East 66th Street, constructed in the 1980s and managed by a subsidiary of GO REIT, is emblematic of the luxury high-rise segment that continues to attract institutional capital. Following the transaction, GO REIT will maintain its role as property manager.
The sale further affirms the underlying value of GO REIT's broader portfolio, which includes more than 2,000 suites in newer-vintage luxury high-rise properties across comparable New York City locations.
About Newmark
Newmark Group, Inc. (NASDAQ:NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
1 Newmark Research analysis of Real Capital Analytics data
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SOURCE Newmark Group, Inc.