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Deals & Dealmakers

Tech education firm Galvanize opening campus at 315 Hudson Street

Jack Resnick & Sons announced that Galvanize., a Denver, CO- based tech learning community, will be opening its first East Coast location at 315 Hudson Street

The neo-classical office property in Midtown South’s Hudson Square submarketis undergoing a $65 million renovation.

Galvanize, which was founded in 2012, offers web development, data science and data engineering education, workspace and networking to students, startups and established companies.

The campus is set to open in early 2017 and will occupy 51,576 s/f on the entire second floor of the building.

In addition, one of the building’s loading docks on Spring Street will be converted to a 3,000 s/f private entrance and coffee bar for the school.

This Hudson Square location will serve as their first campus east of the Mississippi River. They currently operate seven other campuses nationally in Austin, Boulder, Denver, Fort Collins, Phoenix, San Francisco and Seattle.

“We are pleased to welcome Galvanize to 315 Hudson Street and New York City,” said Jonathan D. Resnick, president of Jack Resnick & Sons.

“We believe that the Hudson Square district is the ideal spot for the Galvanize community, and they will serve as a keystone as we embark on the re-tenancy and redevelopment of this property.”

“Until now, Galvanize has built our brand out west, with big, urban campuses,” said Jim Deters, CEO of Galvanize. “It’s time to establish our footprint out east and there’s no bigger place with fast growing tech talent demand to put that foot down than in New York City and we’re very excited to be opening this beautiful campus than in Manhattan.”

The Galvanize lease comes on the heels of another successful year for the Hudson Square submarket.

Now home to more than 50,000 people working in advertising, design, media, communications and technology sectors, the area is a top destination for the creative industry, according to the Hudson Square Business Improvement District.

Research from the BID shows that Hudson Square saw 577,860 s/f of total office leasing for 2015, and boasts one of the lowest office vacancy rates in the entire City at four percent.

Originally developed in 1896 by Henry Heide as a candy factory where Jujubes and Jujyfruits were manufactured for over 50 years, the Resnick Organization acquired 315 Hudson Street in the early 1960s and converted the industrial building into commercial office use. To date, the 500,000-square-foot property has undergone numerous upgrades, earning Leadership in Energy and Environmental Design (LEED) certification with the U.S. Green Building Council, the Environmental Protection Agency’s (EPA) Energy Star Award and Gold certification from WiredScore.

Resnick Organization’s just-launched $65 million capital improvement program will include an expanded lobby with a customized digital media program and curated art, a new building canopy and entrance, destination dispatch elevator service, new windows, upgraded mechanical systems and a tenant dedicated bike storage area and locker rooms.

The building’s penthouse level will feature a new landscaped green roof and gathering space. The entire project is expected to be completed in 2019/2020.

According to Brett Greenberg, managing director of Jack Resnick & Sons, the company also retained a team from Newmark Grubb Knight Frank (NGKF), led by Tri-State President David Falk, to market a 225,000 s/f block of contiguous office space on the top five floors of the building, which will be available for long-term occupancy beginning in 2019.

75,000 s/f  of office space is currently available on the fourth and fifth floors with an asking rent of $75 per square foot.

Other tenants in the building include online advertising company Intent Media, home décor company One Kings Lane and luxury fashion retailer Moda Operandi.

Galvanize was represented by David Falk and Jason Greenstein of NGKF, while Jack Resnick & Sons’ Brett Greenberg and Dennis Brady represented building ownership in-house.

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