Address:
SubMarket: Square Feet: Date Acquired: 99 Wall Street
New York, NY Financial District 100,000 January 1998
Property Overview
99 Wall Street is a 100,000 square foot office building located in the heart of Manhattan's Financial District. Taconic purchased the property, together with 95 Wall Street, in January 1998.
Investment Strategy
At the time of acquisition, 95 Wall Street was net leased to Chase. Taconic was able to acquire a purchase option held by Chase, thereby creating additional value. 99 Wall Street, albeit a small property, took a great deal of redevelopment focus in order bring the building up to code and deal with difficult life safety issues.
Taconic sold 95 and 99 Wall Street as a package in September 1999.
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