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Taconic, TIAA Buy Midtown South Office Tower

NEW YORK CITY—Located in Greenwich Village, the 140,000-square-foot commercial building will be repositioned to become a Class A asset.

817 Broadway Built in 1900, 817 Broadway was designed by the same architect who created the New York Stock Exchange.

NEW YORK CITY—Taconic Investment Partners—in partnership with TH Real Estate (a division of TIAA Global Asset Management) and Squire Investments—has acquired  817 Broadway for $109 million. The 140,000-square-foot commercial building is located at the corner of East 12th Street in Midtown South.

The trio of new owners bought the 14-story building in an off-market transaction from two private families, marking the first time the building has changed ownership in over 60 years. Mesa West Capital provided the mortgage financing for the acquisition and redevelopment. TH Real Estate purchased the property on behalf of the TIAA Real Estate Account, which provides individual investors direct access to commercial real estate.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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