The Real Deal New York

Savanna files plans for “boutique” office tower on Billionaires’ Row

The building at 106 West 56th Street will rise 27 stories
By Will Parker | March 28, 2017 11:45AM

Christopher Schlank and a rendering of Billionaires Row (Credit: City Realty, Click to enlarge)

Private equity firm Savanna Fund filed a new building permit application Tuesday to construct a 27-story office tower at 106 West 56th Street, where it will be a neighbor to some of the city’s most expensive luxury condominium skyscrapers.

Plans call for a 402-foot building and although the application lists a square-footage of 57,573 square feet, a spokesperson for Savanna said the company was still planning to build an approximately 90,000-square-foot tower. Several offices in the new tower will have terraces, according to the filings, and architect Perkins Eastman is designing the project.

In a 2016 interview with Crain’s, Savanna’s Andrew Kurd described the project as “boutique” and said the tower would cater to “high-net-worth individuals, small private-equity firms and family wealth-management offices that want to have new space and proximity to the Upper West Side and Central Park.”

Savanna applied for demolition permits on the site in January 2016. The firm is developing the project in tandem with the Hong Kong-based Atom Assets. Savanna previously acquired 106 West 56th Street from America Press, a Jesuit media company.

Savanna TRData LogoTINY has been busy of late on residential projects across the city — it’s testing the market for a 170-unit condo in Morningside Heights and developing a large mixed-use development in Downtown Brooklyn with office space and up to 203 apartment units.

Correction: An earlier version of this article incorrectly referred to Savanna as the developer of a condo in Woodside, Queens.