NEW YORK CITY-Taconic Investment Partners has promoted Peter Febo toCOO. In the newly created position, Febo is expected to play an integral role in the implementation of Taconic’s business plan, directing the company’s 85-person in-house team and communicating with all asset, development and construction managers.
Previously SVP, Febo now oversees residential, commercial and retail property development; construction projects and commercial and residential asset management, including Taconic Management Company, Taconic’s wholly-owned property management and leasing subsidiary. Febo reports directly to co-CEOs Charles Bendit and Paul Pariser.
Prior to joining Taconic, Febo was the regional VP for the New York-New Jersey metro region at Home Properties, overseeing the development and management of a 44-property, 8,500-unit portfolio valued at more than $1 billion. Previously, he was the director of investments for midwest and east coast assets at AvalonBay Communities and senior property manager at Tishman Speyer Properties, where he was responsible for the redevelopment of 666 Fifth Ave.
According to Taconic, the introduction of the COO position represents the firm’s growth across its various business lines. Most recently, the company began working on Essex Crossing, a significant mixed-used, urban renewal project on the Lower East Side that was awarded to a partnership among Taconic, L&M Development Partners, BFC Partners and the Prusik Group by the city last September.
Current projects include the Sterling Mason at 71 Laight St., a new boutique condominium involving the renovation of a landmarked warehouse and the integration of cutting-edge, ground-up construction; 619 W. 54th St., a historic Art Deco property, which Taconic has re-positioned and re-tenanted on the ground floor with Maserati; and 837 Washington St., a six- story, 55,000-square-foot office and retail building located in the evolving Meatpacking District.
Additionally, Taconic is in the process of rezoning 525 W. 52nd St. to allow for residential development, with plans to develop a 400-unit luxury rental building under New York State’s 80/20 market-rate/affordable housing program.