Property Overview Taconic acquired 50 Broadway in June 1997. The property is a 33-story office tower located in the heart of the financial district in lower Manhattan.

Investment Strategy At the time of acquisition, the property was 65% leased. Taconic implemented several programs to improve the image of the property and to diversify the financial service tenant base. Physical improvements were made, including a new building entrance, upgraded lobby, modernized common hallways, new windows and new elevator mechanical systems. The economic result of these changes was a substantial increase in rents and increased occupancy to 97%.

Taconic sold the property in November 1999.

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