The Real Deal

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Taconic presses on with Class A project in the South Bronx

BankNote rendering

From the June issue: Having transformed from blighted neighborhood to artists' enclave, Hunts Point in the South Bronx was poised to take the typical four-decade route to gentrification that culminates in wine bars, Whole Foods and an Apple store. But these are not typical times, as one developer there has discovered. Taconic Investment Partners bought the fortress-like American BankNote Building, a landmarked 400,000-square-foot, three-building commercial complex in Hunts Point, for $35 million at the end of 2007, "in the good old days," said Taconic partner Douglas Winshall. more