Jack Resnick & Sons announced today that it has finalized two new leases totaling 42,969 square feet of office space at One Seaport Plaza, located at 199 Water Street. The transactions boost year-to-date leasing activity to approximately 460,000 square feet at the iconic 35-story, 1.1 million square-foot downtown property.
Frank Recruitment, a global recruitment company for IT professionals, signed a 35,454 square-foot lease on the entire 10th floor. The firm will consolidate its operations, which are currently spread across multiple buildings in Lower Manhattan, into 199 Water Street during the second quarter of 2020.
Resnick also completed a new 7,515 square-foot direct lease on a portion of the 8th floor with Guardian Life Insurance Company. The firm, which is currently subleasing space on the building’s 20th floor, will move into its new offices in the third quarter of 2020.
In addition to Frank Recruitment and Guardian Life Insurance Company, other major new leases and renewals completed at 199 Water Street this year include collaborative workspace provider WeWork, marketing communications firm W2O Group, healthcare company Med Review, full-service commodities broker Trident Brokerage Services LLC, and nonprofits American Foundation for Suicide Prevention, iMentor, and American Friends of Hebrew University.
“We launched a major leasing campaign at 199 Water Street just over a year ago and couldn’t be more pleased with the results,” said Jonathan Resnick, President of Jack Resnick & Sons. “In 2019 alone, we have leased nearly half a million square feet of Class A office space to a wide range of tenants, representing such diverse fields as media, financial services, healthcare, technology and philanthropy. This leasing velocity is a testament to the quality of the building and the vibrancy of the surrounding neighborhoods.”
Jack Resnick & Sons was represented in-house in both transactions by Executive Managing Director Brett Greenberg and Managing Director Adam Rappaport, along with a Cushman & Wakefield agency team of John Cefaly, Robert Constable, Ethan Silverstein, Stephen Bellwood and Myles Fennon. Seth Hecht of Jones Lang LaSalle represented Frank Recruitment, while Joseph Harkins of Cushman & Wakefield represented Guardian Life Insurance Company.
According to Greenberg, 199 Water Street is now approximately 97 percent leased with current availabilities consisting of 35,454 square-foot across the entire 9th floor, and pre-built suites on the 8th floor (5,413 square feet) and 12th floor (6,421 square feet). A two-floor block of 70,000 square feet on the 20th and 21st floor will become available in July 2020.
Built in 1984 and renovated in 2014, 199 Water Street’s Swanke Hayden Connell-designed lobby features three paintings from the renowned artist Frank Stella, new glass security turnstiles, a destination-based elevator system and a full service messenger center. Other features include an executive in-building parking garage and tenant-dedicated bike and locker rooms. The property is LEED certified from the U.S. Green Building Council (USGBC) and Wired Certified Platinum for excellence in internet connectivity.
Other major tenants at 199 Water Street include The Howard Hughes Corporation, Epsilon Data Management, BGC Partners, and Allied World Insurance Company.
About Jack Resnick & Sons
A full service real estate organization, Jack Resnick & Sons has been an industry leader in development, construction, ownership and management since its founding in 1928. Its Manhattan portfolio currently includes approximately six million square feet of commercial office and retail space, and it has also has developed thousands of luxury residences and continues to own, manage and lease approximately 1,000 rental apartments.
