Health Care Provider Nearly Doubles Space at 199 Water Street
By Nicholas Rizzi April 23, 2019 2:57 pm
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Med Review, a subsidiary of the New York County Health Services Organization, inked a deal to nearly double its offices at Jack Resnick & Sons’ 199 Water Street, the landlord announced.
The health care service provider renewed its 36,985 square foot lease for the entire 27th floor and took an additional 35,454 square feet on the entire 7th floor of the 35-story building, also known as One Seaport Plaza, The New York Post first reported. A spokeswoman for the landlord would not provide the length of the lease.
Med Review, which will now occupy 72,439 square feet, has had its offices in the building between John and Fulton Streets for more than a decade, according to the Resnick spokeswoman.
Aside from Med Review’s lease, Resnick also inked a deal with iMentor for the non-profit to take 22,256 square feet on parts of the eighth floor of 199 Water Street, according to a Resnick release.
The non-profit, which focused on finding mentors for low-income high school students, will move its headquarters from 30 Broad Street between Beaver Street and Exchange Place. in the fourth quarter of this year. The Resnick spokeswoman declined to provide the length of the lease.
Asking rents in both deal ranged from the high $50s to low $60s per square foot, as per the spokeswoman.
Brett Greenberg and Adam Rappaport of Resnick handled both deals in-house along with Cushman & Wakefield (CWK)’s John Cefaly, Robert Constable, Ethan Silverstein, Stephen Bellwood and Myles Fennon.
“Our recent leasing successes here speak not only to the quality of the building and our services but also to the enduring strength and increasing diversification of Lower Manhattan’s economy,” Jonathan Resnick, the president of Jack Resnick & Sons, said in a statement.
CBRE (CBRE)’s Mark Ravesloot and Bill Iacovelli represented Med Review while Lindsay Ornstein, Rory Murphy of Transwestern brokered the deal for iMentor. A spokeswoman for Transwestern declined to comment.
“The company is experiencing tremendous growth and was pleased to double its footprint at the building, where Med Review has had a presence for several years,” Iacovelli said in a statement.
The deals come months after WeWork (WE) signed on to take 201,231 square feet in the 1.1-million-square-feet in 199 Water Street in February, as Commercial Observer previously reported. Other recent leases in the building include nonprofit the American Foundation for Suicide Prevention taking 24,595 square feet and marketing firm W2O Group expanding to occupy 58,852 square feet.
