Manhattan, NY According to Jack Resnick & Sons, three tenants have signed new leases and expansions totaling 285,000 s/f at One Seaport Plaza/199 Water St., its 35-story, 1.1 million s/f downtown property.
In the largest transaction, WeWork signed a 15-year, 201,231 s/f lease covering five full floors. The space is located on the 30th through 35th floors.
San Francisco-based marketing communications firm W2O Group has signed a 58,852 s/f lease renewal and expansion at the property. As part of the 10-year deal, the firm is taking an additional 23,398 s/f on a portion of the 12th floor, while also renewing its 35,454 s/f space on the entire 14th floor.
Resnick has also completed a 15-year, 24,595 s/f lease on a portion of the 11th floor with non-profit organization the American Foundation for Suicide Prevention (AFSP). The AFSP, which is currently located at 120 Wall St., expects to relocate to 199 Water St. this summer.
Jack Resnick & Sons was represented in-house in all three deals by executive managing director Brett Greenberg and managing director Adam Rappaport, along with an agency team from Cushman & Wakefield led by John Cefaly, Robert Constable, Ethan Silverstein, Stephen Bellwood and Myles Fennon. Michael Gottlieb and Martin Cottingham of Avison Young represented W2O, while Erik Schmall, Scott Weiss and Peter Cipriano of Savills Studley represented AFSP. There was no outside representation for WeWork.
“The swift lease-up at 199 Water St. reaffirms its status as one of the premier properties in Lower Manhattan,” said Jonathan Resnick, president of Jack Resnick & Sons. “These new leases speak to the quality of our building, its desirable waterfront location and its highly efficient floorplates, modern infrastructure and responsive, hands-on ownership.”
Following a major renovation and repositioning in 2014, 199 Water Street has played a major role in the transformation of the Lower Manhattan commercial market. The building’s Swanke Hayden Connell designed lobby, which features three paintings from the renowned artist Frank Stella, includes new glass security turnstiles, a destination-based elevator system and a full service messenger center.
The property has also benefited from upgraded signage and lighting and features an executive in-building parking garage, tenant dedicated bike and locker rooms. In addition, critical building systems are located on upper floors, and a detachable floodgate system has been installed at key building entrances for flood protection. It also benefits from close proximity to the South Street Seaport, Fulton Transit Center, the World Trade Center Transportation Hub, NY Waterway ferries and water taxis, Citi Bike terminals, and the free Downtown Connection Bus.
The building has a high-caliber tenant roster featuring The Howard Hughes Corporation, Epsilon Data Management, BGC Partners, and Allied World Insurance Company. Built in 1984, the property is LEED certified from the U.S. Green Building Council (USGBC) and Wired Certified Platinum for excellence in internet connectivity.
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