Newmark Knight Frank markets 870,000 s/f space.

Newmark is entering the New Year with a new name and a major new assignment.

As the merger with London-based powerhouse, Knight Frank, took effect January 1, Newmark Knight Frank announced it had been appointed exclusive leasing agent for the St. John's Center at 340 West Street, an historic 1.285-million s/f property on Manhattan's burgeoning West Side.

The converted office building dates back to 1935, when it was built as a major distribution center by the New York Central Railroad.

Recognized for its recent success in leasing larges spaces in Manhattan's Meatpacking and Chelsea submarkets, Newmark Knight Frank was hired to market a block of 870,000 s/f of office space coming on line soon.

As part of the campaign, the building will be renamed "550 Washington Street @ St. John's Center," taking advantage of the emergence of the neighborhood, which is increasingly attractive to large corporate users and is in the heart of several high-profile new residential developments.

Eugene Grant, whose firm has owned and managed the building for over 40 years, said, "I'm delighted that we are able to offer for long-term lease such a huge block of Class A office and commercial space here in Manhattan. This is a first-time availability in 35 years, in this unique, one-of-a-kind building."

"This building represents a rare opportunity to a multitude of users," according to David Falk, executive vice president and principal of Newmark Knight Frank. "For example, the four-story property boasts the largest floor plates in the city, each comprising 260,000 s/f. Ceiling heights run as high as 27 feet and the building offers spectacular panoramic views of the Hudson River."

"Most importantly, 550 Washington Street @ St. John's Center is ideal for companies looking to create a corporate identity with their own private lobby and signage ... essentially, their own building within the building," Falk noted. "Its high-quality infrastructure is also well-suited for tenants that are looking for top-quality office and data center operations, or major universities seeking a Manhattan campus," Falk said.

Merrill Lynch, currently the largest tenant, is moving out of the building in 2007 when its lease expires, Falk said.

Among the many attractive, one-of-a-kind amenities that are incorporated into the Merrill Lynch space are 450,000 s/f of raised flooring and 25,000 s/f of column-free space on each of three floors. Other notable tenants at 550 Washington Street @ St. John's Center include Bloomberg, RCN and MCI.

The property covers over 4 acres and is 850 feet long. It is bounded by Washington Street, West Street and Clarkson Street, and bridges over West Houston Street. It once housed as many as 125 truck bays on the street level and 100 freight cars simultaneously on the second level. The Highline went through the second floor.

New York-based Newmark Knight Frank and London-headquartered partner Knight Frank Newmark operate from over 140 offices in established and emerging property markets on five continents.