Private Equity Firm ZMC Advisors Moving to East 59th Street
ZMC Advisors, originally known as Zelnick Media Capital, is relocating to 13,284 square feet at 110 East 59th Street, a source with knowledge of the deal told Commercial Observer, so it can expand and be closer to its investors and investments. The company will occupy the entire 24th floor of the 612,181-square-foot building between Lexington and Park Avenues, the source said.
In the second quarter of 2017, ZMC, which was founded by Strauss Zelnick in 2001, will move from a roughly 11,000-square-foot space at 19 West 44th Street between Fifth Avenue and Avenue of the Americas via an 11-year deal. The asking rent was $85 per square foot.
JLL’s Alexander Chudnoff and Dan Turkewitz represented the tenant in the deal and Dennis Brady and Fran Delgorio of Jack Resnick & Sons represented the landlord in-house. The tenant’s brokers did not immediately return a request for comment via a spokesman.
“We’re delighted to add ZMC to our prestigious tenant roster at 110 East 59th Street,” Brady said in a statement via a spokeswoman. “We are confident that they will benefit from the building’s strategic location near some of the finest hotels, shops and restaurants in Midtown.”
Cantor Fitzgerald, Estée Lauder, IMAX Corporation and RP Management are prominent tenants in the 37-story Class A building that Jack Resnick & Sons erected in 1969.
With additional reporting provided by Terence Cullen.