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	<title>The Commercial Observer &#187; City of New York Stays Put at 75 Park Place</title>
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		<title>The Commercial Observer &#187; City of New York Stays Put at 75 Park Place</title>
		<link>http://commercialobserver.com</link>
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		<title>City of New York Stays Put at 75 Park Place</title>

		<comments>http://commercialobserver.com/2012/06/city-of-new-york-stays-put-at-75-park-place/#comments</comments>
		<pubDate>Wed, 27 Jun 2012 10:56:21 -0400</pubDate>
					<link>http://commercialobserver.com/2012/06/city-of-new-york-stays-put-at-75-park-place/</link>
			<dc:creator>Carl Gaines</dc:creator>
				
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		<description><![CDATA[<p>On the heels of its lease renewal at nearby<strong> 100 Church Street,</strong> the <strong>City of New York</strong> has re-upped for 207,812 square feet at<strong> 75 Park Place,</strong> a 14-story, 625,000-square-foot<strong> Jack Resnick &amp; Sons</strong> building.</p>
<p>The space the city renewed for is used by the <strong>Office of Management and Budget, the Office of the Actuary</strong> and<strong> the Department of Information Technology and Telecommunications.</strong> It is spread across four full floors—6 through 9 there. Also in the building is space used by<strong> the Hudson Yards Infrastructure Corporation,</strong> created by the city to finance property acquisition and other work on the far west side related to projects like the extension of the No. 7 subway line.</p>
<p><div id="attachment_235074" class="wp-caption alignleft" style="width: 258px"><a href="http://www.commercialobserver.com/2012/06/city-of-new-york-stays-put-at-75-park-place/75_park_place_03-ret/" rel="attachment wp-att-235074"><img class="size-medium wp-image-235074" title="75_Park_Place_03-RET" src="http://nyocommercialobserver.files.wordpress.com/2012/06/75_park_place_03-ret.jpg?w=248&h=300" alt="" width="248" height="300" /></a><p class="wp-caption-text">75 Park Place.</p></div></p>
<p>Executive managing director <strong>Dennis Brady</strong> and managing director of leasing <strong>Brett Greenberg</strong> handled the leasing for Jack Resnick &amp; Sons in-house. The city didn’t use a broker, according to a spokesman for the landlord.</p>
<p>Mr. Brady told <em>The Commercial Observer</em> that the building is 100 percent occupied, by tenants like<strong> RR Donnelley and Sons, Tradition North America</strong> and<strong> the Borough of Manhattan Community College.</strong></p>
<p>“They have been a long term tenant of ours,” Mr. Brady added, about the city. “To us it was a huge vote of confidence in downtown that the city, who has tremendous options, has elected to remain in our building. The space lays out well for them—there are 50,000-plus square-foot floors.”</p>
<p><strong>Jonathan Resnick,</strong> president of Jack Resnick &amp; Sons, said the firm was “delighted that 75 Park Place will continue to serve as the home of these important city agencies, which have been headquartered in our building since 1990.”</p>
<p>Asking rents in the class A building, which Jack Resnick &amp; Sons built in 1986, are in the mid-$40s. The lease renewal is for 15 years and six months.</p>
<p><em>cgaines@observer.com</em></p>
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		<content:encoded><![CDATA[<p>On the heels of its lease renewal at nearby<strong> 100 Church Street,</strong> the <strong>City of New York</strong> has re-upped for 207,812 square feet at<strong> 75 Park Place,</strong> a 14-story, 625,000-square-foot<strong> Jack Resnick &amp; Sons</strong> building.</p>
<p>The space the city renewed for is used by the <strong>Office of Management and Budget, the Office of the Actuary</strong> and<strong> the Department of Information Technology and Telecommunications.</strong> It is spread across four full floors—6 through 9 there. Also in the building is space used by<strong> the Hudson Yards Infrastructure Corporation,</strong> created by the city to finance property acquisition and other work on the far west side related to projects like the extension of the No. 7 subway line.</p>
<p><div id="attachment_235074" class="wp-caption alignleft" style="width: 258px"><a href="http://www.commercialobserver.com/2012/06/city-of-new-york-stays-put-at-75-park-place/75_park_place_03-ret/" rel="attachment wp-att-235074"><img class="size-medium wp-image-235074" title="75_Park_Place_03-RET" src="http://nyocommercialobserver.files.wordpress.com/2012/06/75_park_place_03-ret.jpg?w=248&h=300" alt="" width="248" height="300" /></a><p class="wp-caption-text">75 Park Place.</p></div></p>
<p>Executive managing director <strong>Dennis Brady</strong> and managing director of leasing <strong>Brett Greenberg</strong> handled the leasing for Jack Resnick &amp; Sons in-house. The city didn’t use a broker, according to a spokesman for the landlord.</p>
<p>Mr. Brady told <em>The Commercial Observer</em> that the building is 100 percent occupied, by tenants like<strong> RR Donnelley and Sons, Tradition North America</strong> and<strong> the Borough of Manhattan Community College.</strong></p>
<p>“They have been a long term tenant of ours,” Mr. Brady added, about the city. “To us it was a huge vote of confidence in downtown that the city, who has tremendous options, has elected to remain in our building. The space lays out well for them—there are 50,000-plus square-foot floors.”</p>
<p><strong>Jonathan Resnick,</strong> president of Jack Resnick &amp; Sons, said the firm was “delighted that 75 Park Place will continue to serve as the home of these important city agencies, which have been headquartered in our building since 1990.”</p>
<p>Asking rents in the class A building, which Jack Resnick &amp; Sons built in 1986, are in the mid-$40s. The lease renewal is for 15 years and six months.</p>
<p><em>cgaines@observer.com</em></p>
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