Savanna picks up two Chelsea office buildings

TRD New York /
Nov.November 13, 2012 09:30 AM

Savanna, a real estate private-equity and asset management firm, has picked up two office buildings at 245 and 249 West 17th Street in Chelsea for an undisclosed amount, the New York Post reported. The acquisitions — totaling 284,000 square feet — brings the size of Savanna’s Manhattan portfolio up to more than 4 million square feet. The seller was the Pressman family.

Built in 1902, the six-story, former warehouse and wagon house for the Siegel Cooper department store at 249 West 17th contains approximately 145,000 square feet of space. The adjacent 12-story building at 245 West 17th has an equal amount of space. The combined retail space offered by the buildings totals around 40,000 square feet.

Savanna plans to spend $21 million on capital improvements, which according to company vice president Kevin Hoo will “preserve and enhance the loft-style aesthetic.”

Eastern Consolidated’s Brian Ezratty brokered the deal exclusively. Newmark Grubb Knight Frank’s David Falk, Peter Shimkin, Danny Levine and Nick Berger will handle office leasing, the same firm’s Jeff Roseman and Amy Zhen will market the retail space. [Post] —Christopher Cameron


Related Articles

arrow_forward_ios
2417 Third Avenue in the Bronx (Credit: Google Maps)

Savanna’s Bruckner Building goes into contract for $65M

Savanna’s Chris Schlank, Altice CEO Dexter Goei, and One Court Square

Savanna rebounds following Amazon loss

Savanna's Chris Schlank and Nick Bienstock with 360 Lexington Avenue

Savanna in contract to buy Midtown East office building

Chris Schlank and Nicholas Bienstock of Savanna with 24-28 West 25th Street (Credit: Google Maps)

Savanna in contract to buy Flatiron District building for $110M

Savanna picks up 521 Fifth Ave for $381M

Savanna picks up 521 Fifth Ave for $381M

Savanna’s Chris Schlank blames Cuomo’s “hubris” and de Blasio’s “weakness” for Amazon ditching New York

Savanna’s Chris Schlank blames Cuomo’s “hubris” and de Blasio’s “weakness” for Amazon ditching New York

Savanna struggling to recapitalize emptyting LIC office tower: report

Savanna struggling to recapitalize emptyting LIC office tower: report

Caterer Great Performances doubling footprint, relocating to South Bronx’s Bruckner Building

Caterer Great Performances doubling footprint, relocating to South Bronx’s Bruckner Building

arrow_forward_ios
Loading...