Global commercial real estate advisory firm Newmark Knight Frank announced it was awarded the sale of 550 Broad St. in Newark.

The sale will be conducted via Realinsight Marketplace, a live-bid, commercial real estate sales platform.

Located in downtown Newark, the property is an 18-story, multi-tenant, Class A office tower.

550 Broad St. is within walking distance of Newark Penn Station and near the southeast corner of Washington Park. The building recently underwent a $1.1 million renovation of its lobby and tenant amenity spaces, including the addition of a new fitness center and café.

Representing the seller is Executive Managing Director Steven Schultz and Managing Directors Tony Georgiev, Josh Malka, along with Jeff Kolodkin, as leasing expert.