Jack Resnick & Sons has finalized a significant lease renewal and expansion with Seneca Insurance Company at its prominent office tower, One Seaport Plaza. This strategic move will see Seneca Insurance more than triple its footprint within the Financial District building, underscoring the property’s appeal.
Key Takeaways
- Seneca Insurance Company is expanding its presence at One Seaport Plaza, increasing its leased space to 25,178 square feet.
Lease Details and Expansion
Seneca Insurance Company, a subsidiary of Crum & Forster, has committed to a new five-year lease renewal and expansion at One Seaport Plaza, located at 199 Water Street. The insurer will relocate from its current 5,413 square feet on the eighth floor to a substantially larger 8,882 square feet on the 29th floor. This expansion brings their total commitment to 25,178 square feet, marking a significant increase in their operational space.
Resnick’s Leasing Momentum
This expansion by Seneca Insurance further bolsters Jack Resnick & Sons’ leasing success at One Seaport Plaza. The property has recently attracted other notable tenants, including Seaport Entertainment Group, which secured an extension, and new leases with Foster Garvey, Forte Capital Group, Brownstone Agency, and Accounting & Compliance International. This activity highlights the continued demand for prime office space in the Financial District.
Representation
In this transaction, Jack Resnick & Sons was represented by an in-house team comprising Brett Greenberg and Adam Rappaport, alongside John Cefaly, Ethan Silverstein, Stephen Bellwood, and Rachel Rosenfeld from Cushman & Wakefield. Seneca Insurance Company, operating as United States Fire Insurance Company, was represented by Eddie Sisca and David Opper of CBRE.