Newmark Knight Frank Capital Group is offering for sale 15 surplus properties in 10 states at auction in connection with a post bankruptcy liquidation of commercial, industrial, warehouse and building lots owned by a major national building supply company.   

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For further information contact:
Randall Liberman  rliberman@newmarkkf.com  212.850.5429
Kenneth L. Zakin  kzakin@newmarkkf.com  212.372.2054

Times Square Hotel, New York, NY

Newmark Knight Frank has been retained as the exclusive broker for the sale of a condominium unit (the "Investor Unit") to be converted into a first class luxury hotel at 229 West 43rd Street, New York, New York (the "Property").

The Investor Unit comprises approximately 343,000 gross square feet of the entire 690,000 gross-square-foot building. The Investor Unit is anticipated to include floors 5, 11 and portions of the fourth floor, ground floor and sub-lower level.

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For further information contact:
James D. Kuhn 212.372.2000 jkuhn@newmarkkf.com
Neal Golden 212.372.2308 ngolden@newmarkkf.com

240 East 38th Street, New York, NY

Newmark Knight Frank Capital Group has been retained as the exclusive broker for the sale of a condominium interest (the "Investor Unit") at 240 East 38th Street, New York, New York.

The Investor Unit is approximately 256,000 square feet of the 546,000 square-foot building.  The Investor Unit is anticipated to include floors 11-19, 22-25 and portions of the ground floor, mezzanine and lower level.

Verizon will retain floors 2-10, 20, 21 and portions of the ground floor and lower level (the "Verizon Unit"). The Verizon Unit contains primarily switching equipment.  Verizon intends to complete the sale of the Investor Unit by third quarter 2010.

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For further information contact:
David Noonan  dnoonan@newmarkkf.com  212.372.2268
Jennifer Schwartzman  jschwartzman@newmarkkf.com  212.372.2205
Scott Klau  sklau@newmarkkf.com  212.372.2244

45 East 33rd Street, New York, NY - UNDER CONTRACT

45 East 33rd Street, New York, New York is on the north side of 33rd Street, between Park Avenue and Madison Avenue.  It is a six-story, 41,785 sf, brick building that will be delivered vacant. 

As a development site, the Property has a total FAR of approximately 93,318 sf, of which 83,443 sf can be residential.

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157 Chambers Street, New York, NY, Retail Condominium

Newmark Knight Frank Capital Group has been retained as the exclusive broker for the sale of a retail condominium interest at157 Chambers Street in Tribeca, Manhattan's premier residential neighborhood.

The 5,087 square foot Property is built to provide two separate retail spaces, however, the bulk of the space (4,612 square feet) is leased to the national pet supply chain PETCO.  The remainder of the space (475 square feet) is currently under lease negotiations.

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For further information contact:
David Noonan  dnoonan@newmarkkf.com  212.372.2268
Randall Liberman  rliberman@newmarkkf.com   212.850.5429
Kenneth L. Zakin  kzakin@newmarkkf.com   212.372.2054

160-162 Lexington Avenue, New York, NY (aka 129 East 30th Street)

160 Lexington Avenue is a unique architecturally prominent building, located on the corner of East 30th Street in the residential neighborhood known as Murray Hill. The seven-story elevator property has 39.5' of frontage on Lexington Avenue, and is 80' wide. It has excellent air and light, and is zoned to allow a variety of different users, including school, not-for-profit headquarters, creative industries (advertisers, PR, architecture, publishing, foundations or museums), foreign consulate and medical. The Property's proximity to transportation and cultural activities further enhances its value.

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For further information contact:
Howard J. Kesseler  hkesseler@newmarkkf.com  212.372.2110
Barry Berkowitz  bberkowitz@newmarkkf.com  212.372.2010
Jordan A. Gosin  jgosin2@newmarkkf.com  212.372.2289

435 West 50th Street, New York, NY

Newmark Knight Frank Capital Group has been retained as the exclusive broker for the sale of a condominium interest (the “Investor Unit”) at 435 West 50th Street, New York, New York (the “Property”). The Investor Unit is approximately 101,000 gross square feet of the 299,534 gross-square-foot building. The Investor Unit is anticipated to include floors 10-16 and portions of the ground floor and lower level. Verizon will retain floors 2-9 and portions of the ground floor and lower level (the “Verizon Unit”). The Verizon Unit contains primarily switching equipment. Verizon intends to complete the sale of the Investor Unit by year-end 2009, and will require a short-term leaseback. The sale is subject to Public Service Commission approval.

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For further information contact:
David Noonan  dnoonan@newmarkkf.com  212.372.2268
Jennifer Schwartzman  jschwartzman@newmarkkf.com  212.372.2205

525 West 52nd Street, New York, NY

525 West 52nd Street, New York, New York is a 7-story, 214,887 rentable square foot brick building with a lower level. It is on a 30,125 sf lot on West 52nd Street that is through the block to West 53rd Street between Tenth and Eleventh Avenues.

The Investor Unit is approximately 194,082 rentable square feet of the 214,887 rentable square-foot building.  The building has eight condominium units, the Investor Unit is seven units, which is the entire building except a portion of the ground floor.  The Investor Unit will be delivered vacant.

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1775 Grand Concourse, Bronx, NY

Newmark Knight Frank Capital Group has been retained by Verizon New York Inc. as exclusive broker for the sale of a condominium interest (the “Investor Unit”) at 1775 Grand Concourse, Bronx, New York (the “Property”). The Investor Unit is approximately 247,175 square feet of the 346,130-square-foot building. The Investor Unit is anticipated to include the entire ground floor, floors 4-8, partial basement, partial roof and side yard. The entire 7th floor and part of the 8th floor is currently occupied by the New York City Human Resources Administration. The remainder of the Investor Unit, approximately 195,000 sf, will be delivered vacant. Verizon will retain floors two and three and partial basement and roof space (the “Verizon Unit”). The Verizon Unit contains primarily switching equipment.

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4 Preston Court, Bedford, MA - UNDER CONTRACT

The property is a two-story, multi-tenanted office building containing 24,751 square feet on 1.38 acres. The property is conveniently located less than two miles from Interstate 95/Route 128.

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For further information contact: 
Doug Jacoby  djacoby@newmarkkf.com  617.449.5959
Jim Thomson  jthomson@newmarkkf.com  617.449.5969
Scott Dragos  sdragos@newmarkkf.com  617.449.5954

175 Adams Street, Boston, MA

Newmark Knight Frank Capital Group has been retained as the exclusive broker for the sale of a condominium interest (the “Investor Unit”) at 175 Adams Street, Boston, MA (the “Property”). The Investor Unit is approximately 50,360 gross square feet of the 104,335 gross-square-foot building. The Investor Unit is anticipated to include floors 2, 3, 4 and a portion of 5. Verizon will retain the ground floor and lower level (the “Verizon Unit”). The Verizon Unit contains primarily switching equipment.

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1 Kellaway Drive, Randolph, MA - IN CONTRACT

This Property is the largest customs bonded storage yard in New England, located in Randolph MA. The tenant signed a new 5 year lease extension with annual CPI bumps from 2.5% - 5% on 10/18/08. Situated on 28.88 acres of land with roughly 17 acres being improved upland the office/warehouse is 38,920 square feet (31,480 ground floor and 7,440 mezzanine) 13,580 office & 25,340 warehouse. The FAR is .28 so there is great potential for future development. The majority of the site has been graded to level to support the improvements and the $3.5+ infrastructure. This is a very unique site with 1,200 linear feet of active CSX rail in back, no spur.

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415 Boston Turnpike, Shrewsbury, MA - UNDER CONTRACT

The property is a three-story, multi-tenanted office building containing 36,087 square feet on 1.72 acres. The property is conveniently located on Route 9 in Shrewsbury, just 8.8 miles from Interstate 495 and 2.5 miles from Interstate 290.

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For further information contact: 
Doug Jacoby  djacoby@newmarkkf.com  617.449.5959
Jim Thomson  jthomson@newmarkkf.com  617.449.5969
Scott Dragos  sdragos@newmarkkf.com  617.449.5954

101 Boardwalk, Atlantic City, NJ

101 Boardwalk is a 365-unit boardwalk and oceanfront apartment complex located at 101 Boardwalk, Atlantic City, Atlantic County, New Jersey.  The Property has theprime position in Atlantic City bordered by beachfront on two sides at the confluence of the Atlantic Ocean and Absecon Inlet.  The acquisition offers an investor a reposition opportunity through capital improvements to create an institutional quality premier luxury residential rental asset.  Existing cash flow will assist in securing interim development financing and provide income while the reposition plans and approvals are secured.

For further information contact: 
Matthew Schnurr  mschnurr@newmarkkf.com
John Hoffman  jhoffman@newmarkkf.com
Lisa Adubato  ladubato@newmarkkf.com

540 Broad Street, Newark, NJ

The Offering represents a unique opportunity to acquire a 427,720-square-foot historic office tower in the Washington Park area of the Central Business District. The Property is currently the headquarters for Verizon New Jersey and offers the investor an opportunity to re-position the Property to take advantage of the continued growth and improvement within the market. The 20-story office tower is situated directly across from Washington Park, with immediate access to the new NJ Transit Light Rail with connections to Broad Street Station and Penn Station. 540 Broad Street, which was built in 1928, underwent a major renovation program over the past five years totaling over $55 million.

For further information contact: 
Matthew Schnurr  mschnurr@newmarkkf.com
John Hoffman  jhoffman@newmarkkf.com
Lisa Adubato  ladubato@newmarkkf.com

2000 Cornwall Drive, South Brunswick, NJ

As exclusive agent, Newmark Knight Frank Capital Markets Group is offering a 100% fee interest in 2000 Cornwall Drive ("the Property"), Monmouth Junction, Middlesex County, NJ. The REO sale offers a unique opportunity to acquire an 86,000 rentable SF, Class B office/research building.

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For further information contact: 
Matthew Schnurr  201.504.5134  mschnurr@newmarkkf.com
Jacklene Chesler  201.504.5124  jchesler@newmarkkf.com

Allwood Brighton Office Center, 2, 4 & 6 Brighton Road, Clifton, NJ

The REO sale of 2, 4, & 6 Brighton Road offers a unique opportunity to acquire a 163,000 SF, Class B multi-building office complex. The Property was named "Building of the Year" for suburban office parks in 1995. In recent years it was the Corporate Headquarters for Linens-N-Things and is currently unoccupied. The asset is superior to competitive projects within the Wayne/West Paterson submarket and will attract tenants based upon quality and price. Peer market office buildings maintain a 3.5% vacancy rate. The Property is positioned near a multitude of retail, dining, hotels and entertaining options, including a 10 minute drive to the Giants/Jets Football Stadium, Izod Arena and the Meadowlands Racetrack. The Property is surrounded by a dense residential community that will enable employers to access a large, capable labor pool. The Property is located 9 miles west of New York City via the Lincoln Tunnel and is easily accessible to the NJ Turnpike, Garden State Parkway and Routes 3, 21, 23 and 46.

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Monroe Center, Hoboken, NJ

Monroe Center is a luxury mixed-use development project with 435 residential units, 208,053 square feet of retail and office space and 1,120 parking spaces located throughout all phases of the Monroe Center Complex. The Property is comprised of five phases. Phase I consists of two existing five story retail and office buildings. These buildings have been renovated and are now rented on a multi-tenant basis to various commercial and artistic tenants. Phase II will consist of 123 luxury residential units, 17,000 square feet of retail space and 365 covered parking spaces. Phase III will consist of 237 luxury residential units, 15,550 square feet of retail space and 755 covered parking spaces. Phase IV is dedicated to open space. Phase V will consist of 75 luxury residential units, and 21,000 square feet of retail space.  Approvals from the city have been issued for all the phases of this development.

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Princeton Park Corporate Center, Monmouth Junction, NJ

The Property is located at 1100 Cornwall Road, Monmouth Junction, Middlesex County, New Jersey. The offering represents a unique opportunity to acquire an institutionally owned 176,348-rentable-square-foot office property with excellent upside potential. Princeton Park Corporate Center is located in the Princeton submarket, one of the most prestigious office markets in Central New Jersey. The Property is currently 64% leased, thus providing secure cash flow plus increased returns through additional leasing.

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The View, Jersey City, NJ

Located adjacent to Liberty State Park along the Gold Coast of New Jersey, the Property offers magnificent unobstructed views of downtown Manhattan. The Property consists of 5.75 acres of vacant land with approvals to construct three connected high rise towers with 575 residential units, 22,000 square feet of restaurant space, 10,000 square feet of retail space and a three story parking structure with 988 parking spaces.

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381 Brooks Road, King of Prussia, PA

381 Brooks Road, King of Prussia, PA is a 9.2 acre Property with approximately 40,000 square feet of office space and approximately 85,000 square feet of warehouse and manufacturing space. It is well located, directly off the Schuylkill Expressway. It features parking for 200 cars and has 9 tailgate docks with 2 drive-in doors. The Property, formerly the Headquarters for MAACO Franchising Inc., is ideal for a corporate user with a King of Prussia address, and is well suited for retail or office re-development.

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For further information contact: 
Jeff Mack  jmack@NewmarkKFSM.com  610.755.6960
Neil Shupak  nshupak@NewmarkKFSM.com  610.755.6977
Reid Blynn  rblynn@NewmarkKFSM.com
Tyler Vandegrift  tvandegrift@NewmarkKFSM.com 

The Errol Flynn Estate, Port Antonio, Jamaica

The Errol Flynn Estate, a 1600+ acre prime waterfront development site is located adjacent to Port Antonio, Jamaica (the "Errol Flynn Estate" or the "Property").

The Property includes 3 ½ miles of dramatic coastline leading up to the foothills of the Blue Mountains. The Errol Flynn Estate offers sprawling pasture land overlooking intimate cove beaches, untouched coral caves and magnificent bluffs. The Property is further enhanced by breathtaking panoramic views of the mountains and the Caribbean Sea. The Errol Flynn Estate constitutes an extraordinary resort development site in a region specifically targeted by the Jamaican government as the "logical and ideal place of future growth, given the area's reputation for exclusivity, natural beauty and an unspoiled character."

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