Capping off a successful year of leasing activity, Jack Resnick & Sons announced today that four companies have signed direct leases and renewals totaling approximately 36,000 square feet at its distinctive Plaza District tower, 880 Third Avenue.
In the largest transaction, independent financial advisory firm QS Investors Holdings, LLC has renewed and expanded by doubling its footprint at the property. The company will now occupy 19,154 square feet on the entire 7th and 8th floors.
In addition, longtime tenant Culbro, LLC, a private equity firm specializing in growth capital investments in middle market companies, has renewed its 5,061-square-foot penthouse lease on the entire 18th floor. The firm has been a tenant at the building for over a decade.
Also renewing is strategic communications firm Stanton Media & Public Relations & Marketing, LLC, which has taken 6,832 square feet on a portion of the 4th floor. And lastly, Fourth Wall Restaurants, LLC, the restaurant group behind prominent upscale restaurants including Smith & Wollensky, Maloney & Porcelli, Quality Italian and Quality Meats, renewed 5,249 square feet on a portion of the 4th floor.
According to Dennis Brady, Executive Managing Director at Jack Resnick & Sons, 880 Third Avenue’s outstanding corner location, with easy access to Grand Central Terminal and several major subway lines, is driving the uptick in leasing activity at the 165,429-square-foot building.
“These four transactions are a testament to the ongoing resurgence of the Third Avenue corridor, the quality of our building and our convenient and desirable location,” he said, noting that the new deals bring the property to 98% occupancy, with only one floor of 12,081 square feet remaining available. “We look forward to continuing our successful leasing campaign in the New Year.”
Fran Delgorio and Dennis Brady of Jack Resnick & Sons represented the building owner in all four leasing transactions. Asking office rents at the property are in the $60 per square foot range.
A full service real estate organization, Jack Resnick & Sons has been an industry leader in development, construction, ownership and management since its founding in 1928. Its Manhattan portfolio currently includes approximately six million square feet of commercial office and retail space, including One Seaport Plaza, its signature office tower at 199 Water Street. It also has developed thousands of luxury residences and continues to own, manage and lease approximately 1,000 rental apartments.