Vornado Appoints Newmark as Exclusive Leasing Agent for Retail Transformation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Should l Buy NMRK?
Source: Globenewswire
- Retail Transformation Strategy: Vornado Realty Trust has appointed Newmark as the exclusive leasing agent for its retail transformation in THE PENN DISTRICT on Manhattan's West Side, marking a significant step in its $2.5 billion revitalization plan that is expected to attract more retailers and enhance regional commercial vitality.
- New Retail Space Development: Over the past decade, Vornado has redeveloped more than 5 million square feet of Class A office space and added 1.1 million square feet of retail space, now home to over 70 curated food and beverage vendors, significantly boosting the area's consumer appeal.
- Infrastructure Improvement: Vornado has also led the expansion of the Long Island Rail Road concourse, now the main passageway of Penn Station, offering a diverse range of dining options that further enhance the area's accessibility and commercial attractiveness.
- Future Development Plans: In collaboration with Newmark, Vornado plans to create a cohesive street-level retail experience along Seventh Avenue between 33rd and 34th Streets, expected to complement the upcoming 78,000 square foot Macy's and Primark flagship store, driving regional economic growth.
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Analyst Views on NMRK
Wall Street analysts forecast NMRK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NMRK is 20.67 USD with a low forecast of 19.00 USD and a high forecast of 22.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 16.180
Low
19.00
Averages
20.67
High
22.00
Current: 16.180
Low
19.00
Averages
20.67
High
22.00
About NMRK
Newmark Group, Inc. is a commercial real estate advisor and service provider to institutional investors, global corporations and other owners and occupiers. The Company offers a diverse array of integrated services and products designed to meet the full needs of its clients. Its investor/owner services and products include capital markets, which consist of investment sales and commercial mortgage origination including the placement of debt, equity raising, and loan sales on behalf of third parties, landlord representation, leasing, valuation and advisory, property management and flexible workspace solutions for owners, a commercial real estate technology platform and capabilities for owners, due diligence consulting and other advisory services, government-sponsored enterprises (GSE) and Federal Housing Administration (FHA) multifamily lending and loan servicing, limited and special loan servicing and asset management, and business rates for United Kingdom property owners.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Commerce Secretary Lutnick Faces Resignation Pressure Amid Epstein Revelations
- Resignation Calls: Republican Rep. Thomas Massie has urged Commerce Secretary Howard Lutnick to resign following revelations of extensive business and personal dealings with deceased sex offender Jeffrey Epstein, which could tarnish the administration's reputation and credibility.
- Revelatory Documents: Reports from The New York Times indicate that Lutnick interacted regularly with Epstein, maintaining contact years after Epstein's conviction, raising significant public and media scrutiny that could lead to a crisis of trust in Lutnick's position.
- Political Consequences: Massie highlighted that Lutnick's actions contrast sharply with several British officials who have resigned over similar associations, underscoring the importance of political accountability and potentially jeopardizing Lutnick's career and standing within the government.
- Ambiguous Department Response: A spokesperson for the Commerce Department claimed Lutnick had
See More
Newmark Named Exclusive Leasing Agent for Vornado's Retail Transformation
- Retail Transformation Partnership: Newmark has been appointed by Vornado Realty Trust as the exclusive leasing agent for the retail transformation of THE PENN DISTRICT, marking a significant collaboration in a $2.5 billion redevelopment project that is expected to enhance the area's commercial vitality and appeal.
- Project Scale and Impact: Over the past decade, Vornado has redeveloped more than 5 million square feet of Class A office space and added 1.1 million square feet of retail space, attracting over 70 food and beverage retailers, significantly improving the commercial environment and consumer experience in the region.
- Infrastructure Improvements: Vornado has also expanded and redeveloped the Long Island Rail Road concourse, which now features a diverse mix of dining and retail options, further enhancing the area's accessibility and commercial attractiveness.
- Future Development Plans: Newmark will collaborate with Vornado to develop a cohesive retail experience along Seventh Avenue, expected to complement Macy's and Primark's flagship store, positioning THE PENN DISTRICT as a new commercial hotspot in New York City.
See More
Vornado Appoints Newmark as Exclusive Leasing Agent for Retail Transformation
- Retail Transformation Strategy: Vornado Realty Trust has appointed Newmark as the exclusive leasing agent for its retail transformation in THE PENN DISTRICT on Manhattan's West Side, marking a significant step in its $2.5 billion revitalization plan that is expected to attract more retailers and enhance regional commercial vitality.
- New Retail Space Development: Over the past decade, Vornado has redeveloped more than 5 million square feet of Class A office space and added 1.1 million square feet of retail space, now home to over 70 curated food and beverage vendors, significantly boosting the area's consumer appeal.
- Infrastructure Improvement: Vornado has also led the expansion of the Long Island Rail Road concourse, now the main passageway of Penn Station, offering a diverse range of dining options that further enhance the area's accessibility and commercial attractiveness.
- Future Development Plans: In collaboration with Newmark, Vornado plans to create a cohesive street-level retail experience along Seventh Avenue between 33rd and 34th Streets, expected to complement the upcoming 78,000 square foot Macy's and Primark flagship store, driving regional economic growth.
See More
Newmark Named Exclusive Leasing Agent for Vornado's Penn District Transformation
- Exclusive Leasing Agent: Newmark Group has been appointed by Vornado Realty Trust as the exclusive leasing agent for the retail transformation of THE PENN DISTRICT, indicating a significant expansion in the commercial real estate sector and expected to enhance market share.
- Retail Space Revitalization: Over the past decade, Vornado has redeveloped more than 5 million square feet of Class A office space and added 1.1 million square feet of retail space, attracting over 70 food and beverage vendors, which enhances regional appeal and commercial vitality.
- Strategic Collaboration: Newmark's retail team will closely collaborate with Vornado to develop the street-level retail experience between 33rd and 34th Streets, which is expected to strengthen the area's commercial ecosystem and further drive consumer traffic.
- Vision for Regional Development: Vornado aims to transform THE PENN DISTRICT into a vibrant 24/7 community, and Newmark's involvement will inject new energy into the retail environment, driving future business growth.
See More
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- Strong Investor Interest: Newmark Capital Markets Executive Vice Chairman Purvesh Gosalia noted that West Shore's portfolio attracted highly competitive financing, reflecting ongoing investor interest in Southeast and Sun Belt markets, especially with multifamily debt originations increasing by 37% year-over-year in 2025.
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- Record Financing: Newmark arranged a $690 million loan for West Shore to refinance 13 multifamily properties across Florida, Kentucky, South Carolina, Tennessee, and Texas, marking the largest multifamily transaction in the U.S. year-to-date, highlighting strong market demand for quality assets.
- Ongoing Partnership: This transaction represents Newmark's third SASB financing with West Shore, totaling $1.8 billion in loan proceeds over the past 15 months, indicating West Shore's sustained activity and influence in the rapidly growing Sun Belt markets.
- Strong Investor Interest: Newmark Capital Markets Executive Vice Chairman Purvesh Gosalia noted that West Shore's portfolio attracted highly competitive financing, reflecting ongoing investor interest in Southeast and Sun Belt markets, which accounted for nearly 45% of investment sales activity in 2025.
- Diverse Asset Portfolio: The portfolio comprises 4,077 units across garden-style and townhome communities, offering one- to three-bedroom floorplans and desirable amenities such as pools, fitness centers, and pet parks, further enhancing its market appeal.
See More
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- Resignation Calls: Republican Rep. Thomas Massie has urged Commerce Secretary Howard Lutnick to resign following revelations of extensive business and personal dealings with deceased sex offender Jeffrey Epstein, which could tarnish the administration's reputation and credibility.
- Revelatory Documents: Reports from The New York Times indicate that Lutnick interacted regularly with Epstein, maintaining contact years after Epstein's conviction, raising significant public and media scrutiny that could lead to a crisis of trust in Lutnick's position.
- Political Consequences: Massie highlighted that Lutnick's actions contrast sharply with several British officials who have resigned over similar associations, underscoring the importance of political accountability and potentially jeopardizing Lutnick's career and standing within the government.
- Ambiguous Department Response: A spokesperson for the Commerce Department claimed Lutnick had
See More
Newmark Named Exclusive Leasing Agent for Vornado's Retail Transformation
- Retail Transformation Partnership: Newmark has been appointed by Vornado Realty Trust as the exclusive leasing agent for the retail transformation of THE PENN DISTRICT, marking a significant collaboration in a $2.5 billion redevelopment project that is expected to enhance the area's commercial vitality and appeal.
- Project Scale and Impact: Over the past decade, Vornado has redeveloped more than 5 million square feet of Class A office space and added 1.1 million square feet of retail space, attracting over 70 food and beverage retailers, significantly improving the commercial environment and consumer experience in the region.
- Infrastructure Improvements: Vornado has also expanded and redeveloped the Long Island Rail Road concourse, which now features a diverse mix of dining and retail options, further enhancing the area's accessibility and commercial attractiveness.
- Future Development Plans: Newmark will collaborate with Vornado to develop a cohesive retail experience along Seventh Avenue, expected to complement Macy's and Primark's flagship store, positioning THE PENN DISTRICT as a new commercial hotspot in New York City.
See More
Vornado Appoints Newmark as Exclusive Leasing Agent for Retail Transformation
- Retail Transformation Strategy: Vornado Realty Trust has appointed Newmark as the exclusive leasing agent for its retail transformation in THE PENN DISTRICT on Manhattan's West Side, marking a significant step in its $2.5 billion revitalization plan that is expected to attract more retailers and enhance regional commercial vitality.
- New Retail Space Development: Over the past decade, Vornado has redeveloped more than 5 million square feet of Class A office space and added 1.1 million square feet of retail space, now home to over 70 curated food and beverage vendors, significantly boosting the area's consumer appeal.
- Infrastructure Improvement: Vornado has also led the expansion of the Long Island Rail Road concourse, now the main passageway of Penn Station, offering a diverse range of dining options that further enhance the area's accessibility and commercial attractiveness.
- Future Development Plans: In collaboration with Newmark, Vornado plans to create a cohesive street-level retail experience along Seventh Avenue between 33rd and 34th Streets, expected to complement the upcoming 78,000 square foot Macy's and Primark flagship store, driving regional economic growth.
See More
Newmark Named Exclusive Leasing Agent for Vornado's Penn District Transformation
- Exclusive Leasing Agent: Newmark Group has been appointed by Vornado Realty Trust as the exclusive leasing agent for the retail transformation of THE PENN DISTRICT, indicating a significant expansion in the commercial real estate sector and expected to enhance market share.
- Retail Space Revitalization: Over the past decade, Vornado has redeveloped more than 5 million square feet of Class A office space and added 1.1 million square feet of retail space, attracting over 70 food and beverage vendors, which enhances regional appeal and commercial vitality.
- Strategic Collaboration: Newmark's retail team will closely collaborate with Vornado to develop the street-level retail experience between 33rd and 34th Streets, which is expected to strengthen the area's commercial ecosystem and further drive consumer traffic.
- Vision for Regional Development: Vornado aims to transform THE PENN DISTRICT into a vibrant 24/7 community, and Newmark's involvement will inject new energy into the retail environment, driving future business growth.
See More
Newmark Secures $690 Million Multifamily Financing, Largest YTD in U.S.
- Record Financing Size: Newmark arranged a $690 million loan for West Shore to refinance 13 multifamily properties across Florida, Kentucky, South Carolina, Tennessee, and Texas, marking the largest multifamily transaction in the U.S. year-to-date, highlighting strong market demand for quality assets.
- Ongoing Partnership: This transaction represents Newmark's third SASB financing with West Shore, totaling $1.8 billion in loan proceeds over the past 15 months, indicating West Shore's sustained activity and influence in the rapidly growing Sun Belt markets.
- Strong Investor Interest: Newmark Capital Markets Executive Vice Chairman Purvesh Gosalia noted that West Shore's portfolio attracted highly competitive financing, reflecting ongoing investor interest in Southeast and Sun Belt markets, especially with multifamily debt originations increasing by 37% year-over-year in 2025.
- Diverse Asset Portfolio: The portfolio comprises 4,077 units across garden-style and townhome communities, offering one- to three-bedroom floorplans and desirable amenities such as pools, fitness centers, and pet parks, further enhancing the market appeal of these properties.
See More
Newmark Secures $690 Million Multifamily Financing, Largest YTD in U.S.
- Record Financing: Newmark arranged a $690 million loan for West Shore to refinance 13 multifamily properties across Florida, Kentucky, South Carolina, Tennessee, and Texas, marking the largest multifamily transaction in the U.S. year-to-date, highlighting strong market demand for quality assets.
- Ongoing Partnership: This transaction represents Newmark's third SASB financing with West Shore, totaling $1.8 billion in loan proceeds over the past 15 months, indicating West Shore's sustained activity and influence in the rapidly growing Sun Belt markets.
- Strong Investor Interest: Newmark Capital Markets Executive Vice Chairman Purvesh Gosalia noted that West Shore's portfolio attracted highly competitive financing, reflecting ongoing investor interest in Southeast and Sun Belt markets, which accounted for nearly 45% of investment sales activity in 2025.
- Diverse Asset Portfolio: The portfolio comprises 4,077 units across garden-style and townhome communities, offering one- to three-bedroom floorplans and desirable amenities such as pools, fitness centers, and pet parks, further enhancing its market appeal.
See More
