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

PGIM is the lender

TRD NEW YORK /
May.May 11, 2018 04:30 PM

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.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Governor Andrew Cuomo (Credit: Albin Lohr-Jones/Pacific Press/LightRocket via Getty Images)

Prevailing wage expansion included in budget deal

Dean & Deluca CEO Sorapoj Techakraisri and Midtown Equities founder Joseph Cayre (Credit: Craig Barritt/Getty Images, Facebook, iStock)

In Chapter 11 filing, Dean & DeLuca reveals it owes Midtown Equities $22M

Compass CEO Robert Reffkin (Credit: iStock)

Compass to agents: It’s (virtual) show time!

From left: Marcus & Millichap CEO Hessam Nadji and MCA’s Todd McNeill and Sunny Sajnani

Marcus & Millichap acquires Dallas-based debt brokerage

Are virtual showings allowed? Brokers are navigating a host of gray areas as they adjust to doing business remotely. (Credit: iStock)

“Total confusion” on whether appraisals, walk-throughs, virtual showings are allowed

arrow_forward_ios
Loading...