Newmark Achieves Significant Sale of 265 East 66th Street in NYC Real Estate Market

On January 20, 2026, Newmark Group, Inc. announced a remarkable transaction in the bustling Manhattan real estate market. The company facilitated the sale of a substantial stake in 265 East 66th Street, a luxury high-rise multifamily property located on the prestigious Upper East Side. This deal highlights Newmark's position as a leading commercial real estate advisor and service provider not only in New York but globally.

The transaction, in which Newmark represented the GO Residential Real Estate Investment Trust (GO REIT), indicated a valuation of approximately $1.35 million per unit. This staggering amount earned the sale a spot as the third-highest price per unit for multifamily properties with 100 units or more in New York City within the last five years. The implications of this transaction reflect the ongoing strength and desirability of high-end residential properties in one of the world's most competitive real estate markets.

Constructed in the 1980s, 265 East 66th Street is a symbol of luxury living in Manhattan. GO REIT, a prominent entity in the real estate investment trust sector, has managed this property through a subsidiary and will continue to oversee its operations post-sale. This retention reflects a strategic decision to maintain ongoing management and leverage the property's capabilities within GO REIT's broader portfolio, which includes more than 2,000 suites across luxurious high-rise settings in comparable locations across New York City.

The sale reinforces the value proposition of GO REIT's portfolio, particularly at a time when institutional capital continues to gravitate towards high-quality multifamily spaces. The luxury segment remains a preferred asset class in real estate investment, known for its resilience in diverse economic conditions. This transaction also illustrates Newmark's tailored approach to facilitating complex sales while ensuring that clients' objectives are met through expert market insight and advisory services.

Adam Spies, Co-Head of U.S. Capital Markets at Newmark, along with Executive Vice Chairman Adam Doneger, played pivotal roles in arranging this off-market deal. Their collective expertise not only brought sellers and buyers together but also highlighted Newmark's ability to navigate the intricate landscape of commercial real estate transactions, ensuring high returns for their clients.

Newmark Group, Inc., listed on the Nasdaq under the ticker symbol NMRK, stands out as a global leader in the commercial real estate sphere. Offering a wide range of services that cater to a diverse client base, from startups to large corporations, Newmark operates approximately 170 offices worldwide and employs over 8,500 professionals across various continents. The company's revenue exceeded $3.1 billion during the 12 months ending on September 30, 2025, showcasing its expansive reach and capacity in the real estate market.

Going forward, Newmark is poised to play a critical role in shaping the future of commercial real estate investments, utilizing their market intelligence and extensive resources to support clients in various property markets. The company’s strategic management and commitment to excellence are evident in significant transactions, like that of 265 East 66th Street, affirming their spot at the forefront of the industry.

Moreover, while the sale of 265 East 66th Street serves as a benchmark for high-value transactions, it also ignites discussions about future market trends and valuations in the context of evolving urban landscapes and shifting buyer preferences. Investors and stakeholders are keenly watching Newmark's next moves in the competitive real estate market of New York City.

In summary, this sale by Newmark not only reiterates the luxurious appeal of New York City real estate but also sets a standard for future transactions, ensuring that high-caliber properties continue to attract institutional investment and expert management.