New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Investment Manager Renews, Expands on East Side
RP Management, the investment manager for pharmaceutical royalties firm Royalty Pharma, has signed a 10-year lease renewal and expansion at Jack Resnick & Sons’ 110 E. 59th St. The new transaction, which increases the tenant’s footprint to about 30,000 square feet, brings the 612,000-square-foot Midtown tower to 100% occupancy.
Jack Resnick & Sons’ Brett Greenberg and Fran Delgorio represented the building owner in the transaction. There were no outside brokers for the tenant.
RP Management’s expanded commitment coincides with an ongoing, multimillion-dollar capital improvement program at the tower. Most recently, Resnick completed a transformation of the façade from its original brick to a high-performance, aluminum rain-screen system.
“We take pride in our hands-on management, and are always working to put smart capital back into our properties,” said Resnick president Jonathan Resnick. “We view this renewal and expansion as a vote of confidence in our efforts.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Lease
