UNIZO Sells 440 Ninth Ave. for $269M

440 Ninth Ave.

NEW YORK CITY—Taconic Investment Partners, an owner, operator, and developer of real estate, with TH Real Estate (an affiliate of Nuveen, the investment business of TIAA), acquired a mixed-use office and retail tower at 440 Ninth Ave. The 411,000-square-foot commercial building is located at the corner of W. 35th Street, close to the Hudson Yards neighborhood. The buyers paid $269 million for the property. They plan to reposition it with capital improvements including updating the lobby, elevators and mechanical systems.

The seller was the Japan-based real estate firm UNIZO Holdings Company, Limited. CBRE’s Darcy Stacom and Bill Shanahan represented UNIZO. Metlife Real Estate Investors provided the mortgage financing for the acquisition and redevelopment. Evan Pariser and Michael Gigliotti of HFF and Tom Traynor and James Millon of CBRE represented the buyers in the debt placement.