Address:
SubMarket: Square Feet: Date Acquired: 100 William Street
New York, NY Financial District 390,000 January 1998
Property Overview
In January 1998 Taconic acquired 100 William Street, a first-class office building located at the corner of William and John Streets in lower Manhattan. The building was built in 1973 and at the time of acquisition was leased in its entirety to CHUBB Insurance at a below market rent.
Investment Strategy
Taconic's building improvement plan focused on redeveloping the streetscape and re-tenanting the retail space. In addition, Taconic successfully negotiated a termination of the CHUBB Insurance lease and was able to release the entire property to a diverse tenant base at substantially higher rents.
After one year of ownership, Taconic sold the building.
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