NEW YORK CITY-One of the city's largest public academic institutions will continue to make the grade at 255 Greenwich St. The Borough of Manhattan Community College—part of the City University of New York—has signed a 20-year, 167,072-square-foot lease renewal at the 14-story, 600,000 square-foot office tower.
The academic institution, a tenant since 2003, will continue to occupy five full floors in the Jack Resnick & Sons' building, including the entire 2nd floor, as well as the entire 10th through 14th floors. The property, which features a student welcome center on Greenwich Street and private entrance on Murray street, is situated in the heart of BMCC's urban campus, consisting of 255 Greenwich St., Fitterman Hall at 245 Greenwich St. and the main campus building at 199 Chambers St.
“BMCC is an integral part of Downtown New York's spirit and resiliency,” says Burton Resnick, chairman and CEO of Jack Resnick & Sons. “We are delighted that the college has recommitted to 255 Greenwich Street for another two decades, continuing its culture of learning and academic enrichment for many years to come.”
Dennis Brady, executive managing director and Brett Greenberg, managing director of Jack Resnick & Sons represented the building owner in the long-term transaction, while Stephen Siegel, chairman, David Hollander, EVP and Richard Levine, SVP of CBRE represented CUNY.
According to Greenberg, asking office rents at 255 Greenwich Street are $50 per square foot. The Resnick family built the building—formerly known as 75 Park Place—in 1984. The name was changed in 2012 in recognition of the reopening of Greenwich street through the World Trade Center site. Greenwich street will be a main north-south thoroughfare from Battery Park to Greenwich Village when it is reopened in 2014.
Currently 100% occupied, other tenants in 255 Greenwich Street include RR Donnelly & Sons, the city's Office of Management and Budget and Tradition North America. In addition, popular Manhattan-based grocery chain Fairway Market will be opening its first lower Manhattan store at the property in late 2014.
BMCC is an international college with students from approximately 160 countries. The community college currently enrolls approximately 24,000 students in degree-programs and 12,000 more in continuing education programs.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
