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Deals & Dealmakers

Community College expands to 245,000 s/f at 255 Greenwich

The Borough of Manhattan Community College (BMCC) is expanding its presence at Jack Resnick & Sons’ 255 Greenwich Street in Lower Manhattan.

One of seven two-year colleges in the City University of New York (CUNY) system, BMCC is home to more than 27,000 students enrolled in 45 associate degree programs.

The school has finalized a 17-year lease for an additional 77,882 s/f of space on the entire 3rd floor and the balance of the 2nd floor of 255 Greenwich.

The new space for the community college, which also has 10,000 students enrolled in its adult and continuing education programs, is in addition to the 167,059 s/f it currently occupies on the remainder of the second floor, as well as on floors 10 through 14.

With the new lease, its total presence at 255 Greenwich Street grows by nearly 40 percent to 244,941 square feet.

BMCC’s 255 Greenwich Street location features a student welcome center on Greenwich Street and private entrance at 70 Murray Street.

The building is situated in the heart of BMCC’s urban campus. In addition to its main campus building at 199 Chambers Street, BMCC owns Fiterman Hall, a state-of-the-art educational building next door to 255 Greenwich that was badly damaged on 9/11, demolished in 2009, re-built and re-opened in 2012.

“We are thrilled to be able to expand our partnership with the Borough of Manhattan Community College, our tenant at 255 Greenwich Street since 2003,” said Jonathan Resnick, president of Jack Resnick & Sons.

“BMCC is one of Lower Manhattan’s most dynamic institutions, and we are pleased to assist them in creating a vibrant learning community designed for New York City residents and students from around the world.”

Brett Greenberg, Executive Managing Director and Adam Rappaport, Managing Director of Jack Resnick & Sons represented building ownership in the long-term transaction, while Stephen Siegel, David Hollander and Richard Levine of CBRE represented CUNY. Asking rents were $60 per square foot.

According to Greenberg, ownership is currently marketing a 16,669 s/f space on a portion of the 5th floor. In 2017, Resnick completed a renovation of the building’s main lobby, which features a glass and granite entry with new glass turnstiles, new security desk and destination dispatch elevators.

Other tenants at the office building include The City of New York Office of Management and Budget, Cornell University and the Ichan School of Medicine at Mt. Sinai.

The base of the building also is home to the first Target location in New York City to adopt its new smaller-format, urban concept.

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