Now occupying portions of both the eighth and ninth floors, the firm has "reaffirmed its commitment" to the Chelsea neighborhood, says to Andrew J. Nick, a principal at Taconic Investments Partners LLC, the owners and managers of the property. Cowtan & Tout's CFO Larry Sturm adds, "The variety of nearby restaurants, growing number of fashion boutiques and new galleries reinforce our decision to remain and expand [in the area]."
The 15-story building was the former home of the Port Authority Commerce department and features 15-ft ceilings, 10-ft windows, high-tech security, a recently renovated lobby and upgraded elevators. In all, the property features 2.8 million sf. The deal was brokered by Brian Gell and Susan MacWilliams of Insignia/ESG.
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