125 West End Ave.
NEW YORK CITY – Taconic Investment Partners and Nuveen Real Estate Partners have acquired two properties on Manhattan's Westside for $230 million. Combined, the properties at 125 West End Ave and 320 West 66th Street total an estimated 500,000 square feet of commercial space.
On Manhattan's Upper West Side, sits 320 West 66th Street, a television studio with over 100,000 square feet, and on 125 West End Ave. is a former automobile factory with large floor plates and high ceilings.
The partnership to acquire the two assets build upon the two firm's existing relationships and provides leverage to transform the assets to capitalize on the growing demand for office and studio space in New York City, according to Chris Balestra, chief investment officer at Taconic Investment Partners.
"This acquisition further solidifies our relationship with Taconic Investment Partners, who shares our vision to maximize investment returns and reimagine NYC's office space," said Nadir Settles, senior regional head of New York office investments at Nuveen Real Estate.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
