Savills Studley taps into NYC in bid to sell $1B London building

UK-based firm looks to beat out Gotham rivals Eastdil, CBRE in finding buyer for Gherkin tower

TRD New York /
Sep.September 15, 2014 12:00 PM

London-based Savills PLC, which acquired the New York-based commercial brokerage Studley Inc. earlier this year for $260 million, is putting the newly-minted company to the test with efforts to market and sell London’s Gherkin building.

A team from Savill’s London office, along with Deloitte Real Estate, was in New York last week on the hunt for potential investors in the Gherkin sales effort, the Wall Street Journal reported. The efforts to sell the iconic piece of London real estate — a deal expected to fetch at least $1 billion — come on the heels of the newly-minted company’s efforts to also market New York buildings overseas, such as Brooklyn’s 316 Bergen Street.

The Studley connection, Savills head of central London Stephen Down, who the company hired away from CBRE in 2003, told the Journal, “opened doors” that might otherwise have been closed to the London firm.

“With a deal of this size, you want to meet the people who make the decisions,” he told the paper in reference to the Gherkin sales push.

In recent years, Studley lagged behind New York commercial brokerages Eastdil Secured and CBRE — a position Savills Studley looks to reverse with the completion of the Gherkin building deal, Heller told the Journal. [WSJ]Julie Strickland


Related Articles

arrow_forward_ios
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

“For years we all laughed at them”: office brokers warm to virtual tours

“For years we all laughed at them”: office brokers warm to virtual tours
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

How to open up our offices on tonight’s TRD Talk

How to open up our offices on tonight’s TRD Talk
Empire State Realty Trust’s CEO Tony Malkin at last year's MIPIM conference in New York (Credit: Getty Images)

MIPIM postponed until June as coronavirus spreads

MIPIM postponed until June as coronavirus spreads
Fears of coronavirus have led some of the world’s most prominent commercial real estate companies to pull out of the MIPIM conference in Cannes, France. (Credit: Getty Images, iStock)

Coronavirus exodus: CRE bigwigs ditch MIPIM

Coronavirus exodus: CRE bigwigs ditch MIPIM
Clockwise from left: JLL's Michele Mahl, Savills' Peter Hennessy, Eastdil Secured's Will Silverman, Christie’s Brian Meier, Nest Seekers' Mike Fabbri and Compass' Charlie Attias 

These were the biggest broker comings and goings of 2019

These were the biggest broker comings and goings of 2019
Savills vice chairman Peter Hennessy

Peter Hennessy heading to Savills

Peter Hennessy heading to Savills
From left: London, Shanghai and Paris

Ed Sheeran builds a village, Notre Dame restoration halted: Global property

Ed Sheeran builds a village, Notre Dame restoration halted: Global property
Forget San Francisco… New York is now the world’s best tech city: Savills

Forget San Francisco… New York is now the world’s best tech city: Savills

Forget San Francisco… New York is now the world’s best tech city: Savills
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...