First Tenant For Taconic Investment

Taconic Investment Partners signed its first major lease at 450 Park Ave. since acquiring the property in June through a joint venture with the New York State Common Retirement Fund. Taconic Capital Advisors, an investment firm that is unrelated to Taconic Investment Partners, signed a 10-year lease for the entire eighth floor. The 9,872-square-foot offices are slated for occupancy in January 2003. The company relocated from 375 Park Ave. "Taconic chose to move here because of its location at Park and 57th, the great New York views (even from the lower floors), the charm of the building, the $12 million building enhancement program underway, and the outstanding reputation of the building’s new owners," said Jeffrey M. Sussman, senior vice president of Taconic Investment Partners.