Property Overview 450 Park Avenue is a 325,000 square foot, class A office tower located at the southwest corner of 57th Street and Park Avenue in the heart of the Plaza District in Midtown Manhattan. The property is 32 stories tall and is home to a high quality roster of tenants, characterized by a wide variety of financial and professional service firms who are drawn by the property's prestigious address and first class amenities.

Investment Strategy Taconic acquired 450 Park Avenue in June of 2002 and invested in excess of $13 million towards a capital improvement program which included a completely renovated lobby, upgraded passenger and freight elevators, renovated public corridors and restrooms, and an upgrade of the building systems. The capital improvement program, combined with a successful leasing campaign, enhanced 450 Park Avenue's position in the market place and enabled the property to attract and maintain an array of distinguished tenants.

Taconic sold 450 Park Avenue in October, 2007.

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