Taconic Capital, an investment firm unrelated to Taconic Investment Partners, is relocating from 375 Park Ave. to the entire eighth floor of the 339,000-sf 450 Park Ave. building. Robert A. Silver, senior managing director of Newmark & Co. Real Estate Inc. represented the tenant. Insignia/ESG, Inc. is the exclusive leasing agent for the property. Details of the lease have not been disclosed, but brokers involved with the property say asking rents for direct space are in the high $70s.
According to Taconic Investment senior vice president Jeffrey M. Sussman, Taconic Capital chose 450 Park "because of its location at Park and 57th, the great new York views, the charm of the building," and the ongoing $12-million capital improvement program at the class A office asset. The new tenant will take occupancy in January 2003.
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