Lease Beat

NYPL’s 58th Street Branch Renews

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The New York Public Library’s 58th Street Branch has signed a 15-year renewal at Jack Resnick & Sons110 East 59th Street, where it has been located since 1969. Asking rent for retail space in the building is $200 per square foot.

“The New York Public Library is an important neighborhood asset,” said Bert Resnick, chairman and chief executive officer of Jack Resnick & Sons, in a prepared statement. “We are delighted to be able to extend their lease for many years to come.” Read More

Lease Beat

Lenox Hill Hospital/North Shore-LIJ Renews at 110 East 59th Street

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Lenox Hill Hospital/North Shore-Long Island Jewish Health System has signed a 15-year renewal for 70,434 square feet at 110 East 59th Street. Asking rents were in the $70s.

“They had a lease that had a little bit of term left to go, but they want to do some work in the space, so they just wanted to put a little bit more term on the lease,” Dennis Brady, executive managing director at Jack Resnick & Sons, the landlord, told The Commercial Observer. Read More

Power Broker

The Storm Chaser: Alexander Chudnoff on Post-Sandy NYC Recovery Efforts

Alex Chudnoff.

Alexander Chudnoff, a commercial leasing broker who takes pride in strengthening relationships with clients through “impeccable service,” was especially busy in the aftermath of Hurricane Sandy.

The Jones Lang LaSalle executive managing director was dividing his time last week between volunteer efforts in the Rockaways, where he provided hot pizza and coffee to storm victims, and getting on the phone to make sure his Downtown Manhattan clients could stay open. Though it was a difficult time, the activity of making connections was just what attracted Mr. Chudnoff to the business in the first place.

“I love to make calls. I love to canvass,” he said. “I like to develop the relationship.”

In some cases, the storm required short-term arrangements, such as lining up space with other clients or in Jones Lang’s own offices, he said. In others, clients were able to proceed with minimal disruption, as when Dentsu Holdings USA returned to work at 32 Avenue of the Americas when Rudin Management opened the building the Monday after the storm. Read More

Lease Beat

Resnick Flying High on Pharma Lease

110 East 59th Street

We can’t tell if it’s the pre-Lehman asking rents or the prescription pharmaceuticals, but it’s a little dizzying atop Jack Resnick & Sons signature tower abutting Park Avenue.

RP Management, the investment manager for pharmaceutical royalties firm Royalty Pharma, has inked a 10-year lease for 13,284-square-foot on the entire 33rd floor. The firm Read More