NEW YORK—New York City’s Human Resources Administration (HRA) has signed a 20-year, 200,000-sq.-ft. lease at The BankNote Building in the Hunts Point section of the Bronx.
Robert Giglio, executive VP of Cushman & Wakefield, and Jody Pulice, founder and president of JRT Realty Group, and Ellen Israel, senior director of JRT Realty Group, represented HRA in the transaction. Paul Wolf, principal of Denham Wolf Real Estate Services, represented the owner, an affiliate of Taconic Investment Partners.
Built in 1909, The BankNote is an office and retail complex that was formerly the home of The American Bank Note Company. Totaling 400,000 sq. ft., the property underwent a $20 million capital improvement plan. Ownership plans to invest another $20 million to build out spaces for HRA and another tenant.
The property is currently 95 percent leased.