The Real Deal New York

Taconic, Square Mile to bring retail and office building to Meatpacking

November 01, 2011 10:15AM

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From left: Taconic Investment Partners co-CEO Paul Praiser, 837 Washington Street (credit PropertyShark) and a rendering of the forthcoming structure (credit Morris Adjmi Architects)

Taconic Investment Partners and Square Mile Capital Management are set to begin construction at 837 Washington Street in the Meatpacking District, and transform an empty two-story meatpacking structure into a six-story glass building with retail and office space.

The New York Post reported that the Morris Adjmi-designed building, between Little West 12th and West 13th streets, will put four glass- and steel-covered stories atop the existing two levels, making for a 54,000-square-foot building with 27,000 square feet of retail on the first three floors. The remaining space is slated for offices. The plan has Landmark Preservation Commission approval and will include terraces and a roof deck with views.
The building had once been owned by disgraced Manhattan Republican party leader James Ortenzio, who sold it in 2008 to a now-deceased florist, before Square Mile wrestled away control.

Taconic CEO Paul Praiser estimated the development cost to be more than $400 per buildable square foot and said he’s hoping that one tenant will take the entire building.
Praiser said he would seek a rent near $600 per foot for the ground floor.

Meanwhile, one block north, Romanoff Equities is planning a 10-story residential tower at another dilapidated meatpacking warehouse. [Post, 1st item]

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