Resnick & Sons complete two leases at 199 Water St. totaling 94,965 s/f

May 21, 2019 - Front Section

Manhattan, NY According to Jack Resnick & Sons, two companies have signed new leases and expansions totaling 94,965 s/f at 199 Water St.

Med Review, a wholly owned subsidiary of the New York County Health Services Org. (NYCHSRO), has signed a 72,439 s/f lease renewal and expansion at the property. As part of the transaction, the firm is taking an additional 35,454 s/f on the entire 7th floor, while also renewing its 36,985 s/f space on the entire 27th floor.

Resnick has also completed a new, 22,526 s/f lease on a portion of the 8th floor with nonprofit organization iMentor. The organization, which is currently located at 30 Broad St., expects to relocate to the building in the fourth quarter of 2019.

“We are pleased to welcome iMentor to 199 Water St. while also significantly expanding our long-term relationship with Med Review at the building,” said Jonathan Resnick, president of Jack Resnick & Sons. “Our recent leasing successes here speak not only to the quality of the building and our services but also to the enduring strength and increasing diversification of Lower Manhattan’s economy.”

Jack Resnick & Sons was represented in-house in both transactions 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. Mark Ravesloot and Bill Iacovelli of CBRE represented Med Review, while Lindsay Orenstein and Rory Murphy of Transwestern represented iMentor.

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.

With the new long-term commitments from Med Review and iMentor, Resnick has secured 379,643 s/f at 199 Water St. year-to-date. The other new tenants are collaborative workspace provider WeWork, marketing communications firm W2O Group, and the non-profit American Foundation for Suicide Prevention.

Following a major renovation and repositioning in 2014, 199 Water St. has played a role in the transformation of the area commercial market. The building’s Swanke Hayden Connell designed lobby, which features three paintings from artist Frank Stella, includes new glass security turnstiles, a destination-based elevator system and a full service messenger center. The building has a tenant roster that includes The Howard Hughes Corp., Epsilon Data Management, BGC Partners, and Allied World Insurance Co. 

The property has upgraded signage and lighting and features an executive in-building parking garage, tenant dedicated bike and locker rooms. In addition, building systems are located on upper floors, and a detachable floodgate system have been installed at building entrances for flood protection. It is close to the South St. 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.

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