Taconic Partners and National Real Estate Advisors sign 3,500 s/f to PNC Bank at The Ellery

Manhattan, NY Taconic Partners and National Real Estate Advisors (National) have signed a 3,500 s/f retail lease with PNC Bank at The Ellery, the 350,000 s/f mixed-use residential development at 312 W 43^rd St. in Hell’s Kitchen.

The bank will occupy space fronting West 42^nd St., further expanding the mix of neighborhood-serving retail at the property. With 330 residences and a diverse mix of retail at its base, the 33-story building reflects the continued evolution of Hell’s Kitchen and the West 42^nd St. corridor, where a growing residential base is driving demand for convenient, neighborhood-serving retail and services. 

“PNC Bank is a strong addition to the growing mix of businesses at The Ellery and further advances our vision for the property as an active part of the surrounding Hell’s Kitchen and Times Square community,” said George Tsapelas, senior vice president at Taconic Partners. “With a combination of grocery, dining and now financial services, we are continuing to curate a retail offering that serves our residents while contributing to the broader community.”

“PNC Bank is exactly the kind of tenant we want at the base of The Ellery, one that residents and the neighborhood will use every day,” said Kevin Verdi, executive vice president & chief investment officer at National Real Estate Advisors. “At National, we are dedicated to developing high-quality, enduring properties that deliver lasting value for our investors, and The Ellery’s retail momentum exemplifies that commitment.”

The addition of PNC Bank builds on continued leasing momentum at The Ellery, following the full lease-up of the building’s residences within the first year of opening. PNC Bank joins a retail mix that includes ALDI, which opened a 25,000 s/f store at the property, and Samudhra, the New Jersey-based Indian restaurant and lounge that leased approximately 10,000 s/f earlier this year. Following the PNC Bank lease, approximately 2,700 s/f of The Ellery’s retail component remains available for lease. 

Developed by Taconic Partners and National, The Ellery was completed in 2024 and features more than 30,000 /f of amenities, including a rooftop pool, private gardens, spa areas, fitness center and coworking spaces.

Taconic Partners and National were represented in the transaction by Brandon Singer from MONA. PNC Bank was represented by Peter Whitenack from Newmark.