Jack Resnick signs 48,242 s/f lease with Target Corp.

Manhattan, NY Jack Resnick & Sons has signed a lease for Minneapolis-based retailer Target Corp. at 255 Greenwich St., a location in one of Downtown’s most heavily-trafficked retail corridors. Set to open in October 2016, the new Target store will be its first in lower Manhattan and occupy a total of 48,242 s/f of space, including 7,358 s/f on the ground floor and 40,894 square feet on the lower level of the property. Brett Greenberg and Dennis Brady of Jack Resnick & Sons represented the building owner in the long-term transaction, while Peter Ripka and Jeff Howard of Ripco Realty represented Target Corp. According to Mr. Greenberg, asking retail rents at 255 Greenwich Street are in the $200 to $250 per square foot range.  Office tenants in the building, which is 97% percent leased, include RR Donnelley & Sons, Tradition North America, the City of New York and Mount Sinai School of Medicine.   The Borough of Manhattan Community College also leases a significant block of space in the building and has its own private entrance on Murray Street. 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, including One Seaport Plaza, its signature office tower at 199 Water Street.  It also has developed thousands of luxury residences and continues to own, manage and lease approximately 1,000 rental apartments.