NEWMARK GRUBB COMPLETES $80.5M SALE OF FIVE CITIBANK BRANCHES

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NEW YORK — Newmark Grubb Knight Frank Capital Group has completed the $80.5 million sale of a portfolio of five Citibank retail bank branches in the New York metro area. A joint venture between Madison Capital and an institutional owner purchased the portfolio. The portfolio consists of 18 Citibank-leased properties and includes: 181 Montague St.; 123 East 86th St.; 2261 Madison Ave.; 107-01 71st Ave,; and 1800 Williamsbridge Road. A Newmark team lead by Kenneth Zakin represented the seller, FGP West Street.

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