Taconic names JRT Realty Group as exclusive leasing agent for the BankNote Building

Taconic Investment Partners has retained JRT Realty Group as the exclusive leasing agent for The BankNote Building, a 400,000 s/f, class A office building located in the Hunts Point section. The 92% leased landmark building presents the perfect opportunity for creative, medical, retail and office uses at the property, which has quickly become a hub for creative companies, non-profits, community organizations and schools by providing a unique combination of professional and affordable space in the burgeoning South Bronx community. "JRT Realty's experience in leasing large spaces to a variety of users in the outer-boroughs made them the perfect fit to lease the remaining space at BankNote," said Peter Febo, senior vice president of Taconic. "Since we purchased the building in 2007, our goal has always been to provide local companies and organizations with open blocks of quality space to reimagine into offices, healthcare centers, training facilities, schools and creative spaces; it's great to see our vision for this building come to fruition." Approximately 30,000 s/f of flexible space remains at BankNote, highlighted by an 11,000 s/f, full-floor space with sweeping views of Manhattan and Hunts Point, as well as a 5,000 s/f freestanding space adjacent to the building ideal for retail users. 14,000 s/f of additional space is also available ranging in size from 900 to 3,000 s/f, ideal for small- to mid-sized users. Ellen Israel, senior director of JRT Realty Group, and Greg Smith, executive vice president of JRT Realty Group, will handle the marketing and leasing of the spaces. "The market for quality, well-located office space in the Bronx is incredibly tight right now," said Ellen Israel, director of JRT Realty Group. "With HRA opening its doors next year, there is a great opportunity for other service providers to locate themselves next to one of the city's largest agencies; there are a lot of synergies possible here." The NYC Human Resources Administration (HRA), which recently signed a long-term lease for 200,000 s/f at BankNote, will dramatically change the amount of foot traffic in and around the historic building when it opens its doors in late 2014. The organization, which has already begun the construction of its new offices, will house approximately 1,000 full-time employees and bring an estimated 200 people to the building every hour. About The BankNote Building Built in 1909, The BankNote is an office and retail complex that was formerly the home of The American Bank Note Company. The architecturally distinct, 400,000-square-foot building has quickly become a hub for creative companies, non-profits, community organizations and schools by providing a unique combination of professional and affordable space in the burgeoning South Bronx community. The class A building, the only one of its kind in the neighborhood, features flexible, customizable spaces that can be tailored to fit the needs of a variety of tenant types and uses. Under the direction of architectural firm Beyer Blinder Belle, which specializes in restoring historically landmarked buildings, Taconic implemented a $20 million capital improvement plan that carefully restored the historic character of the property marked by prominent arched windows, saw-tooth skylights, concrete floors, exposed brick walls and light-flooded interiors. Renovations included the installation of more than 300 new low-e, double-hung windows; the re-pointing of the building's façade; the installation of a new boiler; a reconfiguration of the parking lot, adding landscaping and new pedestrian walkways; building new lobbies; installing a cooling tower; upgrading corridors; building new bathrooms; and modernizing elevators in the Lafayette and Barretto buildings.