FacultyFaculty/Author Profile
Douglas L. Harmon

Douglas L. Harmon

Cushman & Wakefield

New York, NY, USA

Professional Expertise

Since the beginning of his real estate career in 1985, Douglas Harmon has been a prominent leader in New York City and a trusted advisor on the international real estate scene. Mr. Harmon has handled many of the world’s largest, highest-profile and record-setting transactions over the last two decades. Headquartered in New York City, Mr. Harmon is Chairman of Capital Markets at Cushman & Wakefield. Prior to joining Cushman & Wakefield in 2016, Mr. Harmon was a Senior Managing Director and member of the Management Committee at Eastdil Secured, where he worked since 1993. Since 1997, he has sold or recapitalized over $150 billion in transactions, with a focus on New York City.

Mr. Harmon’s real estate transaction experience is broad and extensive, with a resume that includes well-known office properties like the Sears / Willis Tower and the GM Building, to major residential assets such as Peter Cooper Stuyvesant Town, Parkmerced, The Apthrop and Columbus Square, to iconic hotels such as the Waldorf Astoria and the Chelsea Hotel. Furthermore, Mr. Harmon has been a pioneer in transacting in what are now Manhattan’s most exclusive submarkets. Just a few examples include Chelsea Market, Google’s NYC Headquarters (111 Eighth Avenue), the Starett-Leigh Building,Time Warner Center and 10 Hudson Yards.

Major Transactions

  • Helmsley Portfolio (1997 – 2000) – In his early 30’s, Mr. Harmon handled the sale of the Helmsley Portfolio, valued at over $5 billion, marking a watershed moment in his career. Major assets included One Penn Plaza, 230 Park Avenue-Helmsley Building, Starrett-Leigh, Park West Village, Greybar Building, 500-512 Seventh Avenue, 140 Broadway, 1466 Broadway, and the Villas at Park Merced.
  • GM Building (2003, 2006) – Sold the GM Building to Harry Macklowe in 2003 for a record-breaking sum of $1.4 billion, at the time the priciest in New York City history, also sold Jamestown’s GM interest (Macklowe’s sole partner at the time) at a $2.5 billion valuation.
  • Apthorp (2006) – Quarterbacked the sale of the Apthorp in 2006, achieving a record for the highest price ever paid on a per-unit basis at $2.4 million plus per unit.
  • Google NYC Headquarters (111 Eighth Avenue) (2010) – Handled/closed this transaction in 2010; at $1.9 billion, this marked the largest NYC transaction of the last few years, the largest single transaction to a user, and a watershed moment for the Midtown South submarket of Manhattan – as Google expanded in the building and completely transformed Chelsea and the Meatpacking District.
  • 200 Fifth Avenue (Eataly) and 1107 Broadway (2007) – Played a critical role in arranging the sale of 200 Fifth Avenue and 1107 Broadway, then known as the Toy Buildings, which have since transformed the Flatiron District of Midtown South.
  • Sony Building / 550 Madison Avenue (2013, 2016) – Advised Sony to sell their Midtown headquarters for $1.1 billion. Sony purchased the building from AT&T in 2002 for approximately $236 million. In 2016, he navigated Ownership through a $1.5 billion sale – the highest price achieved for a vacant office building at $1,800 PSF.
  • 650 Madison Avenue (2013) – $1.35 billion sale representing the largest single-asset sale transaction in 2013.
  • 5 Times Square (2014) – Led this $1.55 billion sale, marking the largest single-asset transaction in 2014.
  • Three Bryant Park / 1095 Avenue of the Americas (2015) – Sold for $2.2 billion, marketing the largest single-asset transaction in 2015.
  • 450 Park Avenue (2007, 2014) – Achieved the record for the most expensive office building in New York City on PSF basis both times he sold the building, achieving $1,583 PSF in 2007 and $1,700 PSF in 2014.
  • Sears / Willis Tower (2004,2015) – Sold this iconic tower in 2004 and again to Blackstone for $1.3 billion in 2015, marking the highest price ever paid for an office building outside of New York City.
  • Villas at Parkmerced (1998, 2005, 2010, 2014) – Sold or recapitalized this deal four different times every year it was the largest multi-family deal in the country. Located in San Francisco, Villas at Parkmerced contains 3,300 units and over 150 acres. The latest sale for $1.5 billion was the largest residential sale in the country since 2007.
  • Crown Building / 730 Fifth Avenue (2015) – Led the sale on behalf of the Winter and Spitzer families in the $1.775 billion sale. At $4,490 PSF, the 2015 sale sets the world record for the highest price ever paid for an office building on a PSF basis.
  • Peter Cooper Stuyvesant Town (2015) – Sold this iconic, 110 building, 11,250 unit, 80-acre, $5.45 billion residential transaction, marking the largest single transaction ever recorded.
  • 10 Hudson Yards (2016) – Led the complex $2.2 billion recapitalization of 10 Hudson yards as Allianz bought a 44% joint venture interest from Coach, JPMorgan, and Related.

Education & Achievements

Mr. Harmon holds an MBA from the Anderson Graduate School of Management at UCLA and a BA from Brown University.

He is a longtime Board Member of the New York Stage and Film Company, a not-for-profit dedicated to the development and production of new works of emerging and established artists for theater and film. He also serves on the advisory board of Caravel Management, LLC a New York-based emerging and frontier markets investment firm.

Mr. Harmon currently serves on the board of directors for a number of real estate projects in Manhattan, and was named Broker of the Year in 2003 and 2004 (the last two years Institutional Investors Inc. awarded this particular country-wide distinction). Mr. Harmon has accumulated numerous other real estate awards and accolades.

Douglas L. Harmon is associated with the following items:
CHB Chapters  CHB Chapters Marketbeat Manhattan Office (January 2017) - Negotiating Real Estate Deals 2017, Tuesday, June 13, 2017
State of the Real Estate Market (PowerPoint slides) - Negotiating Real Estate Deals 2017, Tuesday, June 13, 2017
Web Segment  Web Segment State of the Real Estate Market - Negotiating Real Estate Deals 2017, Monday, June 19, 2017
MP3 Audio  MP3 Audio State of the Real Estate Market - State of the Real Estate Market, Monday, June 19, 2017
Transcripts  Transcripts State of the Real Estate Market - State of the Real Estate Market, Monday, June 19, 2017
MP4 - Mobile Video Seg  MP4 - Mobile Video Seg State of the Real Estate Market - State of the Real Estate Market, Monday, June 19, 2017
On-Demand Web Programs  On-Demand Web Programs Negotiating Real Estate Deals 2017, Monday, June 26, 2017, New York, NY

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