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Brokerage
Posted: December 3, 2019
Taconic Investment Partners and Nuveen Real Estate acquire two Manhattan properties for $230 million
Manhattan, NY Taconic Investment Partners, with Nuveen Real Estate have acquired two commercial buildings, 125 West End Ave. and 320 West 66th St., along with an adjacent unbuilt site. The property totals 500,000 s/f of commercial space and was purchased for $230 million.
Located in the Upper West Side submarket, 320 West 66th St. is a unique, purpose-built television studio with 100,000 s/f.
125 West End Ave. features large floorplates and high ceiling heights.
“We are excited to add this mixed use asset to our portfolio and redevelop into what first class users are demanding in the market today. In partnership with Nuveen, our combined breadth of experience in the New York City office market positions us well to take advantage of growing demand in the studio and office sectors.” said Chris Balestra, chief investment officer of Taconic Investment Partners.
“This acquisition further solidifies our relationship with Taconic Investment Partners, who shares our vision to maximize investment returns and reimagine NYC’s office space,” said Nadir Settles, senior regional head, New York office investments, at Nuveen Real Estate.
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