Newmark Holdings, one of New York City’s largest private owners and managers of commercial real estate, has changed its name to GFP Real Estate.

“Everything about this company – our team, our properties, our philosophy, our commitment to our tenants and our partners – remains the same, except the name,” said Jeffrey Gural, chairman of the company formerly known as Newmark, now known as GFP.

The name change should help prevent confusion between GFP and the global real estate services firm Newmark Knight Frank (NKF). NKF is now preparing its initial public offering.

GFP was founded in 1952 by Aaron Gural as Newmark & Co. Real Estate Inc. Since then, the company has gathered a portfolio of more than 10.2 million square feet of real estate in the TriState region, with 8.8 million square feet in New York City alone. The portfolio is 98% occupied.

The tenants include a large number of smaller companies and nonprofit organizations. “These organizations play a vital role in our city and so many communities, and we are proud to host over three million square feet of them in our portfolio,” says Eric Gural, Co-CEO of Sage.

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