New Leases for American Friends of Hebrew University and Trident Brokerage Services Brings YTD Leasing Activity to Nearly 400,000 SF
Jack Resnick & Sons announced today that it has finalized two leasing transactions totaling 16,466 square feet of office space at the distinctive, 35-story, 1.1 million square-foot downtown property. With the new agreements, Resnick has successfully leased almost all of the 12-floor, 400,000+ square-foot block of office space that became vacant less than one year ago.
American Friends of Hebrew University, Inc. (AFHU), a national nonprofit that works to raise awareness and funds for the Hebrew University of Jerusalem, has signed a 10,859 square-foot lease on a portion of the 11th floor. AFHU, which is currently located at One Battery Park Plaza, expects to take occupancy at 199 Water Street in June 2020.
Resnick also completed a new, 5,607 square-foot lease on a portion of the 12th floor with full-service commodities broker Trident Brokerage Services LLC. The firm, which works on behalf of large institutional clients such as hedge funds, investment banks, merchants, producers, and trading houses, expects to relocate from 17 State Street in October 2019.
“We are thrilled to welcome American Friends of Hebrew University and Trident Brokerage Services to 199 Water Street, which continues to attract a wide variety of tenants, from nonprofits to co-working, TAMI and professional services firms,” said Jonathan Resnick, President of Jack Resnick & Sons. “This robust leasing activity is a testament to the improvements we have undertaken at the building and the strength of the Lower Manhattan office market.”
In addition to the two new leases, Resnick has finalized leases this year with collaborative workspace provider WeWork, healthcare company Med Review, marketing communications firm W2O Group and the non-profits American Foundation for Suicide Prevention and iMentor.
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 and Wakefield agency team of John Cefaly, Robert Constable, Ethan Silverstein, Stephen Bellwood and Myles Fennon. Lindsay Ornstein, Lauren Davidson, Samantha Schrenker of Transwestern represented AFHU, while Edward “Mac” Mombello and Charlie Stephens of Cushman & Wakefield represented Trident Brokerage Services, LLC.
According to Greenberg, current availabilities at the building consist of the entire 35,454 square-foot 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.
