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WATCH: Taconic co-founders on the deal that jumpstarted their multi-year bet on the Meatpacking District
Paul Pariser and Charlie Bendit discuss the neighborhood's "slow transformation"
Less than six months after launching Taconic Investment Partners, co-founders Paul Pariser and Charlie Bendit closed on their first move into the Meatpacking District.
The pair, who established the firm in 1997 after a long tenure with JLL’s predecessor, Jones Lang Wootton, picked up a 4 million-square-foot portfolio, which included a trio of Financial District buildings at 95 Wall Street, 99 Wall Street, 100 William Street, as well as a 2.9-million-square-foot building in the Meatpacking District at 111 Eighth Avenue. Taconic would later sell 111 Eighth Avenue to Google for $1.8 billion.
“We sort of saw the slow transformation of the Meatpacking District,” Pariser told The Real Deal’s Hiten Samtani during a recent interview. “It was a rough crowd, with drug dealers and weird club called ‘Mother’ that I wasn’t allowed into because I never went in costume A Really Strange Place, but we started to see transformation, we started to see change.”
To watch the partners talk more about the deal, watch the video above. To see the conversation in full, click here.
Produced by Alistair Gardiner and Kerry Barger. Interview conducted by Hiten Samtani
For more videos, visit The Real Deal’s YouTube page.