Lease Extension and Expansion Covers 26,568 Square Feet at Resnick’s Signature Plaza District Tower
Jack Resnick & Sons announced today that it has finalized a 10-year, 26,568 square-foot lease extension and expansion with private equity firm ZMC Advisors at 110 East 59th Street, its prestigious 37-story office tower in the Plaza District of Midtown Manhattan.
A tenant at 110 East 59th Street since 2017, ZMC invests in media, communications and technology companies. As part of the transaction, ZMC renewed its current 13,284 square-foot lease on the 24th floor and is expanding into a similar-sized space on the 25th floor, doubling its footprint in the building.
“We are thrilled that we could accommodate ZMC’s impressive growth on a second contiguous floor,” said Jonathan Resnick, President of Jack Resnick & Sons. “This expansion is yet another vote of confidence in our building and the ongoing allure of Midtown’s Plaza District.”
Alexander Chudnoff and Dan Turkewitz of JLL represented ZMC in the transaction. Jack Resnick & Sons was represented in-house by Executive Managing Director Brett Greenberg and Managing Director Fran Delgorio.
ZMC’s extension and expansion follows the successful completion of a multi-year capital improvement program at 110 East 59th Street. The renovation and modernization initiative, valued at more than $40 million, included the replacement of the original brick façade with an MdeAS Architects- and Vidaris-designed high-performance, aluminum rain-screen system, new cooling towers, new energy-efficient natural gas boilers, an emergency generator and green roof areas to reduce stormwater runoff. The building also features a fully-modernized elevator system featuring touchless destination dispatching technology.
Originally constructed in 1969 by Jack Resnick & Sons, 110 East 59th street is a premiere office tower situated between Park and Lexington Avenues with entrances on both East 58th and 59th Streets and just steps away from some of the finest hotels, shops and restaurants in the Plaza District. The building is currently occupied by diverse roster of top-tier companies, including Cantor Fitzgerald, Estée Lauder, Northwell Health, and RP Management.
According to Greenberg, Resnick will be marketing four floors in the building, including the tower’s top three floors this upcoming fall. The floors, which are available beginning next summer, offer panoramic views west to Central Park as well as city and East River views.
About Jack Resnick & Sons
A full-service real estate organization, Jack Resnick & Sons has been an industry leader in development, construction, ownership and management since its founding in 1928. Its Manhattan portfolio currently includes approximately six million square feet of commercial office and retail space, including One Seaport Plaza, its signature downtown office tower at 199 Water Street. It also has developed thousands of luxury residences and continues to own, manage and lease approximately 1,000 rental apartments.