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Deals & Dealmakers Leases

Guardian Life Insurance and recruitment company sign leases at One Seaport Plaza

One Seaport Plaza at 199 Water Street

Jack Resnick & Sons has finalized two new leases totaling 42,969 s/f of office space at One Seaport Plaza, located at 199 Water Street. The transactions boost year-to-date leasing activity to approximately 460,000 s/f at the 35-story, 1.1 million s/f downtown property.

Frank Recruitment, a global recruitment company for IT professionals, signed a 35,454 s/f lease on the entire 10th floor. The firm will consolidate its operations, which are currently spread across multiple buildings in Lower Manhattan, into 199 Water Street during the second quarter of 2020.

Resnick also completed a new 7,515 s/f direct lease on a portion of the eighth floor with Guardian Life Insurance Company. The firm, which is currently subleasing space on the building’s 20th floor, will move into its new offices in the third quarter of 2020.

In addition to Frank Recruitment and Guardian Life Insurance Company, other major new leases and renewals completed at 199 Water Street this year include WeWork, marketing communications firm W2O Group, healthcare company Med Review, commodities broker Trident Brokerage Services LLC, and nonprofits American Foundation for Suicide Prevention, iMentor, and American Friends of Hebrew University.

“In 2019 alone, we have leased nearly half a million square feet of Class A office space to a wide range of tenants, representing such diverse fields as media, financial services, healthcare, technology and philanthropy,” said Jonathan Resnick, President of Jack Resnick & Sons. “This leasing velocity is a testament to the quality of the building and the vibrancy of the surrounding neighborhoods.”

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 & Wakefield agency team of John Cefaly, Robert Constable, Ethan Silverstein, Stephen Bellwood and Myles Fennon. Seth Hecht of Jones Lang LaSalle represented Frank Recruitment, while Joseph Harkins of Cushman & Wakefield represented Guardian Life Insurance Company.

According to Greenberg, 199 Water Street is now approximately 97 percent leased. Built in 1984, the building was renovated in 2014.

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