News:
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.
Tags:
Brokerage
MORE FROM Brokerage
Fireside Embroidery leases at 1245 Middle Country Rd. in Middle Island
Middle Island, NY Robert Raffa and Robert Monahan of Island Associates negotiated the 1,404 s/f lease for Fireside Embroidery in the Strathmore Shopping
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
