The Real Deal New York

Jack Resnick & Sons lands $115M refi for Hudson Square building

PGIM is the lender
By Konrad Putzier | May 11, 2018 04:30PM

250 Hudson Street and Jonathan Resnick

UPDATED, May 14, 11:56 a.m.: Jack Resnick & Sons refinanced its office building 250 Hudson Street with a $115 million mortgage from PGIM Real Estate Finance, an affiliate of Prudential Insurance, property records show.

The new loan replaces a $80 million mortgage from the same lender issued in 2008. Resnick, which has owned the building since the late 1960s, declined to comment and Prudential couldn’t immediately be reached.

Tenants in the 341,000-square-foot building include Bed, Bath & Beyond, which signed a lease in January 2017. Last year the building lost Momentum Worldwide, a subsidiary of advertising giant Interpublic Group, to Brookfield Property Partners’ 300 Vesey Street.

“We were excited to be part of the original total transformation of the building and the neighborhood starting in 2008 with the Resnick’s, and are excited about keeping the loan as a long term investment given the continued transformation of the neighborhood,” PGIM’s managing director Tom Goodsite said in a statement.

In October, Resnick refinanced the commercial part of Symphony House in Midtown with a $125 million Prudential loan.