Newmark Announces Executive Team to Run the Business of Knotel, Post Acquisition

Knotel, Newmark, Morgans Hotel Group, WeWork, Citadel Investment Group, Highbridge Capital Management, George Weiss Associates
Image courtesy of UHS

Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), today announces that it has hired Michael Gross, Eric Gross and Yoav Gery as the executive team to lead the Company’s new Knotel flex space and hospitality business. Newmark expects to close on the acquisition of the business of Knotel, Inc. (“Knotel”) shortly.

Michael Gross will serve as Chief Executive Officer, and Eric Gross and Yoav Gery as Co-Presidents of the new business to drive the growth strategy and meet increased market demand, both in the U.S. and around the world. The experience of this team provides expertise in both flex space and the hospitality industry – two disciplines that will create a differentiated platform for this business.

“Our acquisition of Knotel’s business was driven by the significant role that flexible office solutions will play in the future of the workplace,” said Barry Gosin, CEO of Newmark. “Bringing on an experienced executive team that has a clear vision for this vertical, combined with Newmark’s market-leading platform, further positions us as a preeminent global provider of workplace solutions to fit virtually any need.”

Michael Gross commented on today’s announcement, “As companies emerge from the COVID-19 crisis there is a unique opportunity to meet the current market needs. The future workplace will require agility, hospitality and amenities to attract employees back to the office. We are excited to usher in new holistic workplace solutions for our clients and leverage our hospitality and flex office space backgrounds.”

Michael Gross previously served as CEO of Morgans Hotel Group and was a Vice Chairman of WeWork. Eric Gross’ extensive investment experience includes senior roles at Citadel Investment Group, Highbridge Capital Management and George Weiss Associates. Additionally, Eric served as a senior executive at WeWork, where he was instrumental in launching its real estate investing platform. Yoav Gery served as President of Selina, a global experience-focused hospitality company, and has held senior executive positions at Morgans Hotel Group and Marriott International.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark generated revenues in excess of $2.2 billion.

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