Savanna closes on deal for Meatpacking District property

Firm was thought to have made $85M offer in May for site of former Mobil gas station

New York /
Jan.January 16, 2015 02:57 PM

Real estate private equity and asset management firm Savanna bought a newly-built property in the Meatpacking District for an undisclosed amount.

The firm purchased the property from Michael Miller and son Brandon Miller‘s Real Estate Equities and Alfieri Development, according to a press release. The building, located at 461 West 14th Street, holds 24,682 square feet. It is a corner retail property located underneath the High Line.

As previously reported by The Real Deal, Savanna was thought to have made an offer of $85 million for the site in May.

The property, which previously housed a Mobil gas station, is on the corner of 14th Street and 10th Avenue. The site has three storefronts.

Real Estate Equities and Alfieri took out a ground lease on the site in 2012. That lease “collapsed at closing,” a source with knowledge of the deal told the New York Observer.

In November, the New York-based Savanna and the Feil Organzation sold 21 Penn Plaza to financial services giant TIAA-CREF. — Claire Moses


Related Articles

arrow_forward_ios
Gucci's Soho store
Gucci to open store in Meatpacking District
Gucci to open store in Meatpacking District
Christopher Schlank, founder, Savanna, in front of 5 Bryant Park (Savanna, iStock)
Equinox facing another unpaid rent suit from Manhattan landlord
Equinox facing another unpaid rent suit from Manhattan landlord
Top loans: Related Companies exits Margaritaville, digs in at Truffles Tribeca
Top loans: Related exits Margaritaville, digs in at Truffles Tribeca
Top loans: Related exits Margaritaville, digs in at Truffles Tribeca
Stripes founder Ken Fox and a rendering of 40 10th Avenue (Stripes, Neoscape)
Private equity firm carves out 14K sf at Aurora’s Solar Carve building
Private equity firm carves out 14K sf at Aurora’s Solar Carve building
Tavros' Dov Barnett and a rendering of the current proposal at 44-54 Ninth Avenue and 351-355 West 14th Street (Tavros, Renderings via BKSK)
City orders Meatpacking office developer to dismantle, rebuild slouching façades
City orders Meatpacking office developer to dismantle, rebuild slouching façades
Gucci pops up at Thor's Meatpacking property
Gucci pops up at Thor’s Meatpacking property
Gucci pops up at Thor’s Meatpacking property
405 West 13th Street and Engine No. 1’s Chris James (BKSK, Engine 1)
Activist hedge fund Engine No. 1 to open Meatpacking District office
Activist hedge fund Engine No. 1 to open Meatpacking District office
The Meatpacking District is now committing to a car-less future full-time after a pandemic-induced experiment. (iStock)
Cars permanently banned from Meatpacking District
Cars permanently banned from Meatpacking District
arrow_forward_ios

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

Loading...