Could Billionaires’ Row be set for another skinny tower?

Savanna plans to demolish nine-story building at 106 West 56th Street

New York /
Jan.January 29, 2016 06:10 PM

Could another slender skyscraper soon be coming to Billionaires’ Row?

Savanna plans to demolish a nine-story, 36,000-square-foot building at 106 West 56th Street, an area with one of the highest floor-to-area ratios in the city.

The private equity and asset management firm filed permits with the Department of Buildings for the site demolition on Wednesday.

Since the 5,000-square-foot lot lies in an area with a FAR of 15, Savanna can build an 80,000 square foot tower as of right, according to 6sqft, which first spotted the permits. (The C6-6 zoning that covers the site allows for a floor-to-area ratio of 15 for a commercial building and 10 for residential, with bonuses available for A Public Plaza and through inclusionary housing.)

Savanna has been busy of late developing a nine-story, Morris Adjmi-designed commercial building at 540 West 26th Street and a mixed-use tower at 141 Willoughby Street in Downtown Brooklyn, where it’s been pushing for a rezoning.

Savanna, which landed number five on TRD‘s April 2015 ranking of top deal-making private equity firms, sold Twitter’s Chelsea headquarters to New York REIT for $335 million. Savanna head Chris Schlank sat down with The Real Deal for a Closing interview in 2014.  [6sqft]Dusica Sue Malesevic


Related Articles

arrow_forward_ios
Rotem Rosen with rendering of 126 E 57th Street (Getty, ODA Architecture)
Rotem Rosen lands $170M construction loan for Billionaires’ Row condo
Rotem Rosen lands $170M construction loan for Billionaires’ Row condo
From left: JDS Development Group's Michael Stern and Susquehanna International Group's Tim Gong along with 111 West 57th Street (Photo Illustration by Steven Dilakian for The Real Deal with JDS, SIG China, TikTok and Kidfly182, CC BY-SA 4.0 - via Wikimedia Commons)
TikTok investor buys twice at 111 West 57th Street
TikTok investor buys twice at 111 West 57th Street
From left: A photo illustration of Gary Barnett and Ryan Serhant along with the Central Park Tower (Getty, SERHANT, Percival Kestreltail, CC BY-SA 3.0 - via Wikimedia Commons)
“I’m like the yin to his yang”: Why Barnett tapped Serhant to sell his crown jewel
“I’m like the yin to his yang”: Why Barnett tapped Serhant to sell his crown jewel
From left: Ken Griffin, Marc Andreessen, and Larry Ellison along with 220 Central Park South in New York City, 3 Carlton Gardens in London, and Casa Del Sole on The Palm Jumeirah in Dubai (Photo Illustration by Steven Dilakian with Getty Images, B1 Properties, No Swan So Fine, CC BY-SA 4.0 - via Wikimedia Commons, and Jim.henderson, CC BY-SA 4.0 - via Wikimedia Commons)
Sizing up the booming global market for trophy real estate
Sizing up the booming global market for trophy real estate
One Court Square in Long Island City QNS and Savanna managing director Brian Reiver (Wikipedia, Loopnet, Getty))
Savanna’s LIC office tower nabs big tenant
Savanna’s LIC office tower nabs big tenant
Gary Barnett and Central Park Tower (Getty, Percival Kestreltail/CC BY-SA 3.0/via Wikimedia Commons)
Gary Barnett seeks record $250M for Central Park Tower penthouse
Gary Barnett seeks record $250M for Central Park Tower penthouse
Pacific Oak’s Keith Hall and Savanna’s Christoper Schlank with 110 William Street
Pacific Oak Capital, Savanna default on 110 William Street
Pacific Oak Capital, Savanna default on 110 William Street
Rotem Rosen with an aerial (left) and diagram of 124 East 57th Street (ODA Architecture, Google Maps)
Rotem Rosen faces holdout on Billionaires’ Row
Rotem Rosen faces holdout on Billionaires’ Row
arrow_forward_ios

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

Loading...