{"id":1004149647,"date":"2016-08-05T12:58:21","date_gmt":"2016-08-05T20:58:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004149647"},"modified":"2020-05-18T00:53:25","modified_gmt":"2020-05-18T08:53:25","slug":"newmark-olmstead-close-61m-lic-purchase","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newmark-olmstead-close-61m-lic-purchase\/","title":{"rendered":"Newmark, Olmstead Close Queens LIC Purchase"},"content":{"rendered":"<p>By Ioana Neamt<\/p>\n<div id=\"attachment_1004149648\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/4301.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004149648\" data-attachment-id=\"1004149648\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/newmark-olmstead-close-61m-lic-purchase\/attachment\/4301\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/4301-e1470659137816.jpg\" data-orig-size=\"1349,804\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Ioana Neamt&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1470410191&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"4301\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/4301-e1470659137816.jpg?w=1024\" class=\"wp-image-1004149648 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/4301-e1470659137816.jpg\" alt=\"43-01 22nd St., Long Island City\" width=\"300\" height=\"179\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/4301-e1470659137816.jpg 1349w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/4301-e1470659137816.jpg?resize=300,179 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/4301-e1470659137816.jpg?resize=768,458 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/4301-e1470659137816.jpg?resize=1024,610 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004149648\" class=\"wp-caption-text\">43-01 22nd St., Long Island City<\/p><\/div>\n<p><strong>New York<\/strong>\u2014<a href=\"https:\/\/www.ngkf.com\/\" rel=\"nofollow\" target=\"_blank\">Newmark Holdings<\/a> and <a href=\"https:\/\/www.olmsteadinc.com\/\" rel=\"nofollow\" target=\"_blank\">Olmstead Properties<\/a> have acquired 43-01 22<sup>nd<\/sup> St., a six-story, 225,000-square-foot office property in Long Island City, for a total of $61 million. The asset is located in the heart of the Courthouse Square section of the neighborhood, and had been previously family-owned since the 1920s. The joint venture partners now share equal ownership of the building, co-CEOs Eric Gural and Brian Steinwurtzel of Newmark Holdings announced.<\/p>\n<p>\u201cWe are delighted to add this property to the Newmark Holdings portfolio and increase our footprint within Long Island City, which has been experiencing tremendous growth over the past several years,\u201d Steinwurtzel said in a statement. \u201cLong Island benefits from subway lines directly feeding Grand Central (five minutes), the Port Authority (12 minutes) and Penn Station (15 minutes).\u201d<\/p>\n<p>Olmstead Properties intends to focus on further expanding its Long Island City portfolio, and has also been active in New York City; the firm recently acquired the DKNY Building on West 40<sup>th<\/sup> Street. Newmark Holdings acquired a number of properties in the area within the past year, including 10-27 46<sup>th<\/sup> Ave. and 11-05 44<sup>th<\/sup> Drive.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The joint venture partners paid $61 million for a six-story office asset in Long Island City.<\/p>\n","protected":false},"author":192,"featured_media":1004508706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1600,21742,10,21747],"tags":[],"class_list":["post-1004149647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-new-york","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Newmark, Olmstead Close Queens LIC Purchase - 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