Newmark Retail Arranges First New York Outpost for Little Scholars NYC at 600 Avenue of the Americas

October 16, 2024 9:00 AM

Newmark Retail announces it has secured a new 8,000-square-foot lease on behalf of owner United American Land LLC (“UAL”) at its boutique condominium property, The LYLA, in Manhattan’s Chelsea neighborhood. Newmark Director Ravi Idnani and Associate Director Aric Trakhtenberg are the exclusive retail leasing agents at the property and facilitated the transaction on behalf of the landlord.

Little Scholars NYC, a leading provider of high-quality early childhood education which uses theories from creative curriculum and high-scope educational models, will occupy the entire retail portion of the development, which includes 500 square feet on the ground floor and 7,500 square feet on the second floor. In securing this outpost, Little Scholars NYC celebrates the expansion of its footprint and its first location in Manhattan.

“Through our diligent efforts navigating complexities of the deal structure, from the changing laws and regulations for childcare and education operations in the city to working collaboratively with the Departments of Health and Education, we successfully brokered a winning outcome for all parties,” said Idnani. “We look forward to witnessing the growth of the complementary partnership that is UAL and Little Scholars NYC.”

Located at the base of the exclusive condominium The LYLA, the retail offering at 600 Avenue of the Americas is situated on the edge of two bustling neighborhoods, the Flatiron District and Chelsea. The space benefits from an exclusive elevator servicing only the ground and second floors and seven-day-a-week traffic courtesy of a strong mix of daytime employees, residents and students. Additionally, the asset is near the 14th Street station servicing the PATH and MTA transit lines F, M and L, and the 23rd Street station with MTA transit lines F, M and N-Q-R-W.

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 year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. 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.