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Taconic-National RE Advisors Announce $250M Project

The new ownership plans to demolish the existing building between Eight and Ninth avenues and construct a new nearly 350,000-square-foot mixed-use property in its place.

Chris Balestra, chief investment officer of Taconic Investment Partners Chris Balestra, chief investment officer of Taconic Investment Partners

NEW YORK CITY—Taconic Investment Partners and National Real Estate Advisors have acquired 311 West 4nd St. in Midtown West from 1199SEIU United Healthcare Workers East via a 99-year ground lease.

The new ownership plans to demolish the existing building located between Eight and Ninth avenues and construct a new nearly 350,000-square-foot mixed-use property in its place. The redevelopment project, including acquisition, is estimated at approximately $250 million. Demolition of the building is expected to begin in 2020.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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