Taconic lists Midtown West office property for $160M

Price aims for $50M profit over $110M paid less than two years ago

619 West 54th Street
619 West 54th Street

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.

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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