The Real Deal New York

Taconic lists Midtown West office property for $160M

Price aims for $50M profit over $110M paid less than two years ago
February 26, 2014 04:00PM

Taconic Investment Partners has listed its 300,000-square-foot office building at 619 West 54th Street for $160 million.

Taconic purchased the 10-story property, located in an emerging residential neighborhood that is also home to Two Trees Management’s Mercedes House at 555 West 53rd Street, from KBS Realty Advisors for around $110 million in late 2012. Jones Lang LaSalle’s Richard Baxter has been tapped to market the building, located west of Eleventh Avenue.

Leasing has so far been successful in the building, with Taconic inking a 25,000-square-foot ground floor retail lease to carmaker Maserati last year. The firm also nabbed a lucrative and high-profile sale in 2010 with the $2 billion deal for 111 Eighth Avenue, picked up by Google. [Crain’s]Julie Strickland