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Deals & Dealmakers

Jack Resnick & Sons inks 25,000 square feet of office renewals and expansions at 485 Madison Avenue

 Jack Resnick & Sons today announced the completion of three lease agreements totaling 25,000 square feet at 485 Madison Avenue, its 25-story office tower located in the heart of Manhattan’s famed Plaza District.

In the largest of the three transactions, Zuckerman Spaeder LLP signed a direct lease for 14,101 square feet across the entire 10th floor.  The boutique law firm previously occupied the space through a sublease.

In addition, commercial real estate investment manager Pembrook Capital Management, LLC signed a 5-year, 8,179 square-foot lease renewal to maintain its corporate headquarters on the entire 22nd floor of 485 Madison. 

In a third agreement, Nyca Partners is increasing its footprint in the building by 2,718 square feet as part of a 7-year lease renewal.  With the expansion, the leading fintech venture capital firm’s New York City offices will encompass a total of 6,918 square feet on the 17th floor of the building. 

“We are proud to extend our successful working relationships with Zuckerman Spaeder, Pembrook and Nyca,” said Jonathan Resnick, President of Jack Resnick & Sons. “Their decisions to maintain their offices at 485 Madison are a testament to the quality of the building and the services we provide, and the enduring appeal of New York City and the Plaza District for today’s leading finance, investment and legal firms.”

Jack Resnick & Sons was represented in-house in all transactions by Adam Rappaport and Brett Greenberg.  Pembrook Capital Management was represented by Corey Borg of Newmark.  Zuckerman Spaeder was represented by Joseph Gervino of Avison Young.  Asking rents for all three spaces was $65 per square foot.

Resnick is currently marketing numerous pre-built suites ranging in size from 4,000 to 10,000 square feet. 

In addition to the three new agreements, Resnick has also achieved a number of recent retail leasing successes at 485 Madison.  Earlier this year, luxury clothing boutique Workshop opened a new location at the building, and in November, Swiss shoemaker Le Majordome opened its first flagship store in the U.S. These high-end retailers joined iconic Italian eatery Fresco by Scotto and Gregory’s Coffee, leaving just one 1,850 square-foot retail storefront available for lease.

Built in 1929 and designed by architect J.E.R. Carpenter, 485 Madison Avenue was acquired by Jack Resnick & Sons in 1976. The distinctive 25-story, 305,675 square-foot building features a double-height, stone lobby with soaring, wrap-around wood panels, and an original, Henry Moore bronze sculpture. The property has achieved Gold certification under the U.S. Green Building Council’s LEED rating system, as well as WiredScore Gold and EnergyStar certifications. The building is currently home to office tenants such as Signature Bank and Janover.

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