NEW YORK, NY –Taconic Investment Partnersis pleased to announce that Italian luxury automaker Maserati’s impressive new showroom at 619 West 54th Street– a 326,000-square-foot Art Deco commercial property – recently opened. The building formerly known as Warner Brothers Pictures’ “Movie Lab” has undergone extensive renovations in preparation for Maserati’s launch.
“We are thrilled to see the showroom open for business,” said Colleen Wenke, vice president of Taconic Investment Partners. “I have no doubt that Maserati will experience great success at 619 West 54th Street and add great value to a quickly growing neighborhood.”
After months of renovations that included new cladding, windows, and an enhanced storefront, the 25,000-square-foot stunning showroom offers a rotating display of top selling models, including the always popular Quattroporte. The opening also marks the first authorized Maserati service center in New York City, and includes pick-up and delivery for all clients. Maserati’s other Manhattan showroom located at 1 York Street has consistently ranked in the top three in sales among 80 authorized dealers nationwide.
“Collaborating with Taconic has been such a pleasure, and we are thrilled to open our second Manhattan showroom in the ultimate destination for luxury automobiles,” said Stuart Hayim, Owner of Maserati of Manhattan. “This historic building is the perfect backdrop for our luxury products and we have already begun taking orders.”
The new dealership joins an illustrious group of automakers on a revitalized and growing stretch of Eleventh Avenue in the West 50s, where the industry has regrouped by funneling investment into corporate dealerships and shuttering other locations scattered across the city. Maserati represents the pinnacle of Italian luxury along the auto corridor, joining the flagship dealerships of German luxury automakers that have opened in recent years including Audi (2009), Mercedes-Benz/smart (2010), and BMW/Mini (2011). Other automakers on Eleventh Avenue currently include Lexus, AUDI Volkswagen, and the Ford-owned Manhattan Automobile Company (Ford, Lincoln, Mazda, Jaguar, Range Rover, Land Rover, and Volvo) to the north and east of the building; Fiat, Subaru, Cadillac, Manhattan Jeep Chrysler Dodge, Infiniti, Toyota, and Nissan are located south of the building.
In addition to working with Maserati for the significant storefront and façade upgrade, Taconic is modernizing the building’s infrastructure and security and installing accent lighting to highlight the building’s base and unique Art Deco crown. The firm assembled a best-in-class team for the renovation including Cook + Fox Architects, whose most lauded projects include the Bank of America Tower and Taconic’s 401 West 14th Street location for Apple Inc., and Aspen-based lighting designer Robert Singer.
The building is currently 92 percent occupied by tenants in a range of industries including media, advertising, fashion, medical services and technology, with new leases being handled by Jones Lang LaSalle.
A burgeoning neighborhood that verges on being an established, thriving community, the New West Side is fast-becoming a 24-hour neighborhood as residential real estate developments from the West 30s through the West 50s have flocked further westward. Businesses are increasingly seeking newer and renovated commercial space that offer value, no longer restricted solely to Midtown’s narrower selection of pricier, aging stock; the New West Side is now populated with office workers and commercial tenants and showrooms including Ogilvy, Coach, Kenneth Cole, and Prada. An exploding number of dining and hospitality options including upscale wine bars, rooftop lounges, new hotels, concert venues, theater/live performance studios and after-hours entertainment have also moved in to support the population growth.
For leasing inquiries, please contact Matthew Astrachan of Jones Lang LaSalle at 212-812-6438 or by e-mailing [email protected].
For information on Maserati, please visit the website at http://www.maserati.us/
About Taconic Investment Partners
Since 1997, Taconic Investment Partners has acquired, redeveloped and repositioned over 12 million square feet of commercial office and mixed-use space, as well as 3,000+ units of luxury and workforce housing in the New York metropolitan area, Chicago, Washington, D.C., and Atlanta. As a fully integrated real estate operating company with a keen eye for uncovering value, its diverse capabilities are evidenced by its multifaceted success with luxury properties, as well as adaptive reuse and urban revitalization projects. In New York City, Taconic is currently co-developer of 837 Washington in New York’s Meatpacking District, 71 Laight Street in TriBeCa and has assembled significant land holdings in Coney Island for residential development. The firm also manages various real estate funds on behalf of institutional and pension fund investors. For more information visit: www.taconicinvestments.com.