Taconic acquired this four-story former parking facility in 2006, relocated the garage tenant, and undertook a complete rehabilitation and expansion to create a 30,000 square-foot, first-class medical office building. The site is within the Upper East Side’s “Hospital Corridor,” and offers an ideal location for healthcare office space in an underserved market. Numerous world-class hospitals with leading specialists in every field are located nearby, including New York Presbyterian, the University Hospitals of Columbia and Cornell, Lenox Hill Hospital, Memorial Sloan-Kettering Center, Mount Sinai, Rockefeller University Hospital, and Gracie Mews Hospital.

In order to capitalize on the full development potential permitted by zoning and attract prime healthcare tenants, Taconic implemented substantial improvements throughout the property, including building a rooftop addition, expanding the existing structure, and upgrading the base building. Base building improvements included renovating the existing façade, replacing windows, creating full-floor tenant units, adding a new elevator/stairway core and marble lobby, and installing new mechanical, electrical, and plumbing. The property was sold in 2010.