NEW YORK CITY-As Lower Manhattan’s residential population continues to boom, soon, there will be another new luxury condo on the block. Taconic Investment Partners and Los Angeles-based Oaktree Capital Management have acquired 71 Laight St., a warehouse property between Greenwich and Washington Streets in TriBeCa that will be converted into 34 loft-style residences, has confirmed.

Under the deal, Taconic acquired the building for $65 million from seller Arranz Acinas Group using an investment fund with $220 million in equity from Taconic and its institutional investors. Upon completion in 2014, the residences will range in size from approximately 1,900 square feet to 5,400 square feet, and will be designed by Morris Adjmi, the same architect behind similar industrial redevelopment projects such as 408 Greenwich St., 40 Gansevoort St., 450 W. 14th St. and Wythe Hotel in Williamsburg, Brooklyn.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.