Landlord Jack Resnick & Sons has donated 50,000 square feet at 315 Hudson Street to the Lower Manhattan Cultural Council, which will operate its Workspace artist residency in the spot.
The 10-month tenancy would ordinarily drum up about $2.7 million in rent based on a rate of $60 per square foot elsewhere in the Hudson Square building, the New York Post reported. LMCC will have 32 artist studios, meeting rooms and rehearsal spaces, according to the newspaper.
The donation comes ahead of an overhaul of the building scheduled for 2018. LMCC previously occupied donated space at One Liberty Plaza, courtesy of Goldman Sachs, and 100 Wall Street, thanks to private equity firm Savanna. [NYP, 4th] — Tom DiChristopher