One of the city’s largest public academic institutions will continue to “make the grade” at Jack Resnick & Sons’ 255 Greenwich Street.
The Borough of Manhattan Community College (BMCC), a part of the City University of New York (CUNY), has signed a 20-year, 167,072 s/f lease renewal at the 14-story, 600,000 square-foot office tower.
The academic institution, a tenant since 2003, will continue to occupy five full floors in the building, including the entire 2nd floor, as well as the entire 10th through 14th floors.
The property, which features a student welcome center on Greenwich Street and private entrance on Murray Street, is situated in the heart of BMCC’s urban campus, consisting of 255 Greenwich Street, Fitterman Hall at 245 Greenwich Street and the main campus building at 199 Chambers Street.
“BMCC is an integral part of Downtown New York’s spirit and resiliency,” said Burton P. Resnick, chairman and chief executive officer of Jack Resnick & Sons. “We are delighted that the college has recommitted to 255 Greenwich Street for another two decades, continuing its culture of learning and academic enrichment for many years to come.”
Dennis Brady and Brett S. Greenberg of Jack Resnick & Sons represented the building owner in the long-term transaction, while Steven Siegel, David Hollander and Richard Levine of CBRE represented CUNY.
According to Greenberg, asking office rents at 255 Greenwich Street are $50 per square foot. The Resnick Family built the building in 1984, formerly known as 75 Park Place, the name was changed in 2012 in recognition of the reopening of Greenwich Street through the World Trade Center site. Greenwich Street will be a main north- south thoroughfare from Battery Park to Greenwich Village when reopened in 2014.
Currently 100% occupied, other tenants in 255 Greenwich Street include RR Donnelly & Sons, City of New York Office of Management and Budget and Tradition North America. In addition, Manhattan-based grocery chain Fairway Market will be opening its first lower Manhattan store at the property in late 2014.
BMCC is an international college with students from approximately 160 countries. The community college currently enrolls approximately 24,000 students in degree-programs and 12,000 more in continuing education programs.
