Today’s news:

Class-A designation

Upon completion of a $25-million renovation, the 405,000-square-foot BankNote building will become the first Class-A office and retail building in Hunts Point, Bronx.

The Class-A designation is rare in the Bronx commercial market making this architecturally-distinct property the second Class-A office building in the south Bronx and one of eight in the entire Bronx borough.

“We are thrilled that The BankNote, which has already been recognized as a historic landmark, has now been recognized for its quality, performance and position in the New York City marketplace,” said Charles Bendit, co-chief executive officer of Taconic Investment Partners, LLC. “CoStar’s Class-A rating of The BankNote is a positive sign of change in the south Bronx commercial market and we are pleased to be part of this exciting movement.”

CoStar is the commercial real estate industry’s most comprehensive database with more than 2.9 million properties representing more than 60 billion square feet of inventory and over 1 million for-sale and for-lease property listings in the United States, United Kingdom and France. CoStar employs over 1,000 highly-trained professionals who canvass the country, interview owners and brokers, inspect properties and examine public records to offer accurate, up-to-the minute information to subscribers.

“The BankNote building is an important part of the history and future of the Bronx,” said Ray Salaberrios, president of the Bronx Overall Economic Development Corporation. “We have been very focused on attracting businesses to Hunts Point.

The BankNote’s designation as a Class-A building is a big win for the borough and an indication of the progress of the South Bronx office market.”

The BankNote is a landmarked 405,000-square-foot office and retail complex located in the Hunts Point section of the Bronx. Through the combined efforts of Taconic Investment Partners and Denham Wolf Real Estate Services, the architecturally-distinct building is undergoing a $25-million redevelopment and seeking LEED certification. Renovations will include new windows, lobbies, bathrooms, elevators and mechanical systems. Under the direction of celebrated architectural firm Beyer Blinder Belle, renovations of the former American Bank Note Company building will respect the historic character of the property marked by prominent arched windows, saw-tooth skylights, concrete floors, exposed brick walls and light-flooded interiors. For more information visit: www.thebanknotenyc.com. For leasing, call (212) 736-6777.

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