50 Broadway

Address: 50 Broadway, New York, NY
Submarket: Financial District
Size: 350,000 square feet
Type: Office
Date Acquired: June 1997
Date Sold: November 1999

Taconic acquired 50 Broadway, a 33-story office tower located in the heart of Manhattan’s Financial District, in June 1997. At the time, the property was 65% leased. Our team implemented several programs to improve the image of the property and diversify the financial service tenant base. Physical improvements included a new building entrance, upgraded lobby, modernized common hallways, new windows, and new elevator mechanical systems. As a result of these changes and an aggressive leasing program, rents and occupancy substantially increased, with occupancy reaching 97% during our ownership.

50 Broadway