Taconic Partners’ George Tsapelas Talks Taconic’s Development Advisors – Business Observer
Taconic Partners Vice President of Development George Tsapelas speaks with Trade Observer to discuss Taconic Development Advisors and the transformation of 730 Third Avenue.
Tell me about your experience at Taconic Partners and some of your current projects.
I’ve been with Taconic for almost 20 years, so I’ve had the opportunity to grow with the company and learn from some of the smartest minds in the business. Among our extensive development portfoliodevelopment projects, I work on all types of assets from life sciences to residential, but I particularly enjoy our commercial redevelopment projects which include design, construction and leasing supervision.
Taconic Development Advisors worked with Nuveen Real Estate on the redevelopment of its headquarters at 730 Third Avenue, which recently underwent a comprehensive renovation to help Nuveen and its parent company, TIAA, attract top employees but also attract third-party tenants . The revamp includes an all-new mid-century modern lobby designed by Gensler with custom artwork by Eamon Ore-Giron and Giuliano Martinuzzo. Gensler also designed the sculpture-like spiral staircase leading to the second floor of amenities. The entire building has been transformed to feel like an art exhibit, as we brought in a global community of artists, who are featured throughout the property, adding texture and vibrancy. intrigue to space. The second-floor amenity space, which includes a tenant-exclusive dining room, fitness center, and conference center, features a diverse range of rooms to complement the architectural design of the space. The building’s communal rooftop terrace incorporates hospitality design, including a heated bar and gazebos available exclusively to tenants and featuring a colorful mural by New York-based ASVP surrounded by greenery and seating .
You mention that 730 Third Avenue is a Taconic Development Advisors project. Can you tell me about this division?
At Taconic Partners, our goal is to create places, not spaces. We strive to go beyond simple construction and development, and pride ourselves on our management and problem-solving expertise. Using these strengths and our experience, Taconic Development Advisors provides strategic solutions and advice to our clients.
We’re not afraid of complexity and our team brings decades of experience, delivering great solutions to the biggest challenges. When we are brought in on a project, our services encompass everything you need from start to finish, including obtaining the necessary municipal approvals, choosing the right architect, working with existing tenants on renovations complexes, management of arts and crafts programs, and rental supervision.
We worked hand-in-hand with our client and our long-time partners at Nuveen Real Estate at 730 Third Avenue to reposition the development for success. Understanding the client’s aspirations to modernize the building for its own benefit and attract prime tenants, Taconic led a complete overhaul of the property and 730 Third set the high water mark for an office building on Third. Ave. Beyond the artwork, key features we’ve implemented to make this office building stand out include beehives that produce honey for the building’s tenants, a food hall and an accompanying app for advance orders and catering, a first-class fitness center equipped with Peloton bikes and a beautifully finished locker. rooms and a conference center that can be customized and rearranged to accommodate multiple types and sizes of meetings. The building’s website at 730 Third Avenue includes more details and photos of the entire offering.
We know your relationship with Nuveen Real Estate goes beyond 730 Third Avenue. Can you tell me more about this partnership?
Taconic and Nuveen Real Estate have worked together for approximately seven years, bringing the expertise and experience of our teams to invest in new opportunities and build premier developments. To date, we have already invested in over 2 million square feet in and around New York in various investment vehicles for various asset classes, from life sciences to office and industrial.
Our teams trust each other and work well together, using the best of our different skill sets to create entirely unique products. We were truly honored when they asked us to be part of 730 Third Avenue and couldn’t be more proud of the finished product.