Real Estate Weekly
Image default
Deals & Dealmakers

Private equity firm expands at Resnick’s 110 E59th Street

Jack Resnick & Sons  has finalized a 10-year, 26,568 s/f lease extension and expansion with private equity firm ZMC Advisors at 110 East 59th Street, its 37-story office tower in the Plaza District of Midtown .

A tenant at 110 East 59th Street since 2017, ZMC invests in media, communications and technology companies. As part of the transaction, ZMC renewed its current 13,284 s/f lease on the 24th floor and is expanding into a similar-sized space on the 25th floor, doubling its footprint in the building.

“We are thrilled that we could accommodate ZMC’s impressive growth on a second contiguous floor,” said Jonathan Resnick, President of Jack Resnick & Sons. “This expansion is yet another vote of confidence in our building and the ongoing allure of Midtown’s Plaza District.”

JONATHAN RESNICK

Alexander Chudnoff and Dan Turkewitz of JLL represented ZMC in the transaction. Jack Resnick & Sons was represented in-house by Executive Managing Director Brett Greenberg and Managing Director Fran Delgorio.

ZMC’s extension and expansion follows the successful completion of a multi-year capital improvement program at 110 East 59th Street. The $40 modernization iincluded the replacement of the original brick façade with an MdeAS Architects and Vidaris-designed high-performance, aluminum rain-screen system, new cooling towers, new energy-efficient natural gas boilers, an emergency generator and green roof areas to reduce stormwater runoff.  The building also features a fully-modernized elevator system featuring touchless destination dispatching technology. 

Originally constructed in 1969 by Jack Resnick & Sons, 110 East 59th street is situated between Park and Lexington Avenues with entrances on both East 58th and 59th Streets and steps away from some of the finest hotels, shops and restaurants in the Plaza District.  The building is currently occupied by diverse roster of top-tier companies, including Cantor Fitzgerald, Estée Lauder, Northwell Health, and RP Management.

According to Greenberg, Resnick will be marketing four floors in the building, including the tower’s top three floors this upcoming fall. The floors, which are available beginning next summer, offer panoramic views west to Central Park as well as city and East River views.

(Visited 1 times, 1 visits today)

Related posts

Ivy Realty, Waterfall sell another slice of NJ tech campus

REW

C&W moves Long Island team to next gen’ digs

REW

Real estate industry most tolerant of drunk or high employees, survey reveals

REW