David Falk and Neil Goldmacher

When interviewed for last year’s Power 100 list, David Falk said he thought office activity in New York City in 2025 would be stronger than 2024. His prediction proved prescient — all the way into 2026.

Last year, office leasing volume hit 43 million square feet in Manhattan, the third-highest total in the last decade, according to Newmark research. Law firms reinvested heavily to reinvigorate their offices. And demand from new and existing AI firms surged, hitting about 964,000 square feet leased in Manhattan in the first quarter of 2026 versus 908,000 for all of 2025.

In the midst of this explosion in demand and leasing, Newmark surged, too. The firm happily found itself on both sides of a stellar year. Newmark played a role in 16.5 million square feet worth of leasing transactions in New York City as a whole. 

“As tenants get bigger and more sophisticated, they really want to be advised by bigger, more sophisticated platforms, and that means Newmark,” Neil Goldmacher said. “That’s one of the reasons Newmark had its best year ever last year.”

The firm closed many big deals, like re-signing Horizon Media to 360,000 square feet at 75 Varick Street. Falk attributes the stellar year to a long-term trend in how the firm thinks about its work. Sure, it’s got talent, great tools, and aggressive recruitment. But it’s more about being consultative, being strategists, solving problems during a sea change in what the office means to corporate America.

Falk points to the way the firm has elevated properties — putting sites on the radar, differentiating properties so everyone wants to show their client — including recent work at 1251 Avenue of the Americas, a Midtown Manhattan skyscraper owned by Mitsui Fudosan America.where Newmark acts as leasing broker.

“We don’t just get hired to lease office space,” said Falk. “We get hired to take the building from A-minus to an A so that we are bringing it up to a different caliber, creating an environment that has a vibrant nature.”

So far in 2026, leasing has hit its stride, with 13 million square feet leased in the first quarter, a potential record pace. It’s a safe bet Falk, Goldmacher and their teams will help keep that momentum going.