Printer Friendly

Newmark, Regal in management venture.

Newmark & Company Real Estate, Inc. and Regal Management & Systems, Inc. have joined their considerable forces to form Newmark Residential Real Estate Management, Inc. -- a new company which will offer residential management services to its clients. James D. Kuhn, Newmark's president, and Fred Rothschild, Regal's president, made the announcement.

Together, Newmark & Company and Regal Management & Systems account for approximately 35 million square feet of commercial and residential property management throughout the New York tri-state area.

Regal Management manages approximately 10 million square feet of residential space comprised of more than 10,000 individual apartment units throughout New York City as well as 1.7 million square feet of commercial space in New York and Philadelphia. Newmark & Company manages more than 100 commercial buildings with an aggregate of 23 million square feet of space in New York City and across the tri-state area. Newmark Residential Real Estate Management, Inc. will enable Newmark & Company to offer residential management services to its institutional clients who -- either intentionally or unintentionally -- have acquired residential properties. In turn, Regal Management will gain access to the institutional marketplace.

According to Kuhn, the formation of Newmark Residential Real Estate Management is a key step in Newmark & Company's commitment to providing comprehensive real estate management service. Newmark & Company -- which was founded in 1929 and now boasts offices in Manhattan, Westchester and Hackensack, New Jersey -- recently formed a new division, Newmark Institutional Management Group, dedicated to providing the most sophisticated financial, accounting and reporting capabilities to support its growing institutional property management client base. A number of prestigious properties have come under the umbrella of Newmark's Institutional Management Group's services, including 660 Madison Avenue, 40 Fulton Street, and the Christiana Building in Tarrytown, New York. Of late, many of Newmark's institutional and other clients have expressed the need for residential management as well.

In forming Newmark Residential Real Estate Management, Newmark and Regal have created what could be the largest full-service property management company in the Northeast.
COPYRIGHT 1993 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Newmark and Company Real Estate Inc. and Regal Management and Systems Inc. join in business venture forming Newmark Residential Real Estate Management Inc.
Publication:Real Estate Weekly
Date:Aug 11, 1993
Previous Article:NY courts open to brokers suing for NJ commissions.
Next Article:State Board to enforce uniform equalization.

Related Articles
Institutional Management Group formed by Newmark & Company.
Equipped with technology, residential manager grows.
Harwood named Young Person of Year.
Expanding Newmark's New Jersey presence.
Harmonizing financial knowledge with market wisdom.
The Gurals: a great NY real estate family.
Newmark sees no summer slowdown in Westchester and Connecticut.
Newmark to handle Chelsea Market.
Newmark & Company Real Estate, Inc.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters