Jack Resnick Lands $295M to Refi One Seaport Plaza

199 Water St., New York City. Courtesy of Jack Resnick & Sons.

NEW YORK CITY—Jack Resnick & Sons has reportedly secured $295 million in debt financing from AXA Equitable Life Insurance Co. for its Seaport Plaza office tower here. Jack Resnick & Sons new debt financing will be used to refinance $240 million in existing debt provided by Morgan Stanley in 2007, according to the Commercial Observer. The financing transaction provides $55 million in additional funds for the borrower. The 1.1-million-square-foot 35-story office tower at 199 Water St. was built by Jack Resnick & Sons in 1984 and was designed by Swanke Hayden Connell Architects. Virtual column-free floors at the property average 36,000 square feet. The building is LEED EB:OM Certified with the U.S. Green Building Council. According to the company’s website, the major tenants at the property include: AON Service Group, Allied World Insurance, BGC, Epsilon Data Management, SCOR Insurance, Tullet Prebon Americas and The Weisscomm Group, Ltd . The 199 Water St. office building suffered significant damage from Hurricane Sandy.  Jonathan Resnick, president of Jack Resnick & Sons, stated in a published report that the firm spent $50 million for recovery, restoration and reinforcement in the aftermath of the flood damage caused by the 2012 storm to the office tower.