Jack Resnick & Sons signs 70K sf in leases at its Sandy-ravaged 199 Water
Jack Resnick & Sons’ 199 Water Street, which bore the full wrath of Hurricane Sandy, has just signed two full-floor leases totaling more than 70,000 square feet, the New York Post reported.
San Francisco-based public relations firm the WeissComm Group is moving from its Midtown South location into 35,454 square feet on the 14th floor. Cassidy Turley represented WeissComm Group, while Cushman & Wakefield’s John Cefaly, Robert Constable and Andrew Peretz represented the landlord along with an in-house team of Dennis Brady and Brett Greenberg.
Meanwhile, the nonprofit physicians’ peer-review provider NYCHSRO/MedReview – which is currently a subtenant at the building — signed a direct lease for 36,985 square feet on the 27th floor. CBRE’s Mark Ravesloot and William Iacovelli represented NYCHSRO, while Brady and Greenberg brokered the deal in-house for Resnick.
The deals bring the 1.1 million square-foot Lower Manhattan tower to more than 97 percent occupancy, and point towards a full recovery from the storm for Lower Manhattan. Asking rents at the property are in the $40s per square foot, the Post said.
The landlord had to pump eight million gallons of water out of the building’s basement after the storm, Resnick president Jonathan Resnick told the Post. Tenants began coming back to the property in late December, and since then, “we’ve moved a lot of our critical infrastructure — utilities, emergency generators, safety equipment and telecom equipment — upstairs.” [NYP, 1st item] — Hiten Samtani