Newmark Arranges $270M Sale and $250M JPMorgan Financing for One Dag Office Tower in Midtown Manhattan
Newmark has arranged the $270 million sale of One Dag, a 50-story Class A office tower located at 885 Second Avenue in Midtown Manhattan, along with $250 million in acquisition financing provided by JPMorgan, the firm announced June 17, 2026. The buyer is David Werner Real Estate Investments, and the seller is Rockpoint Group.
At approximately 870,000 square feet, the implied pricing works out to approximately $310 per square foot.
Transaction Details and Advisory Teams
Newmark Co-Head of U.S. Capital Markets Adam Spies, Executive Vice Chairman Adam Doneger, and Managing Director Willis Robbins represented seller Rockpoint in the sale negotiations. On the financing side, Newmark Head of Global Debt & Structured Finance Jordan Roeschlaub and Vice Chairman Nick Scribani arranged the $250 million acquisition loan on behalf of buyer David Werner Real Estate Investments. Director Tim Polglase supported the transaction. JPMorgan provided the loan.
About One Dag: Asset Profile
One Dag comprises approximately 870,000 square feet across 50 stories and was designed by Emery Roth & Sons. The property has undergone more than $20 million in capital improvements, including an award-winning lobby redesign by STUDIOS, upgrades to a flagship retail concourse, and enhancements to an adjoining public plaza.
The tower is situated between Grand Central Terminal and the United Nations Headquarters, positioning it within one of Midtown Manhattan's most internationally recognized office corridors. The location provides tenants with access to the city's transit network as well as proximity to premier hospitality, dining, and retail amenities. The building also offers unobstructed views of the Manhattan skyline and the East River, according to Newmark's announcement.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm that generated revenues of more than $3.4 billion for the twelve months ended March 31, 2026. The company and its business partners operated from over 185 offices with more than 9,600 professionals across four continents as of that date.