Douglas Harmon and Adam Spies

Another year, another big deal from Douglas Harmon and Adam Spies.

This time, it was Naftali Group’s more than $800 million purchase of the 33-story luxury apartment building at 800 Fifth Avenue from Spitzer Enterprises and Winter Properties in March of this year. It’s a deal likely to be high up on the top 10 investment sales of 2025 for New York City.

“That’s the last great site on the luxury train,” Harmon said. “And this is the best site of them all on Fifth Avenue.”

But it’s not just that sale that Harmon and Spies have to brag about. There are Haddad Brands’ $360 million acquisition of Two Park Avenue in December; J.P. Morgan Chase’s $310 million purchase of 250 Park Avenue in July; SL Green Realty picking up 500 Park Avenue for $130 million in November; and The Durst Organization selling a $135 million minority stake in its Halletts Point multifamily project in Queens this February.

Three years into the duo’s tenure at Newmark, the Harmon-Spies team closed nearly $8 billion in transaction volume in 2024, including their loan sale portfolio deals.

While they’ve been dealing with a “choppy” market the past few years — and didn’t have the massive boost in transaction volume that the 2023 sale of Signature Bank’s $60 billion loan portfolio provided — they’ve still managed to close those blockbusters. Harmon attributes part of that to the relationships they’ve built, so clients turn to them in challenging markets.

“We’re not in it just to get a fee. It’s these relationships we built up for so many years that want us to navigate where they should go,” Harmon said. “They have confidence in the work we’ve done, in other deals we sold, and the results we achieve. It kind of feeds on itself.”

Another part of that is the pair’s new home at Newmark — which Harmon said allows them to be more nimble — as well as the team that Harmon and Spies built over the years, including Josh King, Adam Doneger, Avery Silverstein and Marcella Fasulo.

“Back in the day, I could do it myself,” Harmon said. “You need a village now.”