Savanna rebounds following Amazon loss

Firm had previously subleased space from Citi

TRD New York /
Jun.June 24, 2019 06:15 PM
Savanna’s Chris Schlank, Altice CEO Dexter Goei, and One Court Square

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

Savanna now has one less thing to worry about as it seeks to fill the Amazon-shaped hole at One Court Square.

Telecom and cable firm Altice USA, which has been subleasing three floors from Citigroup at the building since 2017, has now entered into a lease agreement with Savanna for 103,000 square feet, the landlord announced on Friday.

Except for the existence of expansion options, terms of the deal were not disclosed. A JLL team led by Mitchell Konsker represented Savanna as exclusive leasing agents for the building.

Amazon’s plans to bring part of its campus to Long Island City nearly forced Altice out of the building earlier this year, as the online retail giant planned to take up 1 million square feet at the 1.5 million square foot building once Citigroup’s lease expired in 2020. Now that Amazon has scrapped those plans, Altice will be staying in place.

In March, health care firm Centene Corporation was reported to be in talks to take up as much as 500,000 square feet at One Court Square.

That same month, Savanna’s Chris Schlank blamed Gov. Andrew Cuomo’s “hubris” and Mayor Bill de Blasio’s “weakness” for Amazon abandoning plans for a campus in Long Island City.


Related Articles

arrow_forward_ios
IBM CEO Arvind Krishnam and 88 University Place (Google  Maps, IBM)

IBM to leave WeWork’s 88 University Place

IBM to leave WeWork’s 88 University Place
Facebook CEO Mark Zuckerberg (Getty)

“Large pools of talent”: Mark Zuckerberg touts remote-work plan

“Large pools of talent”: Mark Zuckerberg touts remote-work plan
The Durst Organization president Jonathan Durst and 655 Third Avenue (Google Maps)

Mitsubishi International renews big lease at Durst’s 655 Third Avenue

Mitsubishi International renews big lease at Durst’s 655 Third Avenue
From left: SL Green CEO Marc Holliday, Land & Buildings Investment Management founder Jonathan Litt and Vornado chairman Steven Roth (Unsplash; Land & Buildings Investment Management; Getty)

Activist investor Jonathan Litt is shorting big NYC office landlords

Activist investor Jonathan Litt is shorting big NYC office landlords
An illustration of Vornado's Steven Roth and Facebook's Mark Zuckerberg

Revenge of the hoodies: Big Tech may be breaking up with Big Office for good

Revenge of the hoodies: Big Tech may be breaking up with Big Office for good
MetLife researchers “expect many firms to try (and fail)” permanent work from home arrangements in the near-term, though the long-term impact may be offset by other considerations. (Credit: iStock)

TRD Insights: “Pandemic compliant” offices may offset remote work impact

TRD Insights: “Pandemic compliant” offices may offset remote work impact
Mortgage lenders are beginning to see missed rent payments from office buildings. (Credit: iStock)

Add office tenants to the list of those not paying rent

Add office tenants to the list of those not paying rent
A CBRE global survey of over 200 companies found the vast majority are taking a cautious approach to reopening their workspaces. (Credit: iStock)

TRD Insights: Most companies will reopen their offices in phases, CBRE global survey shows

TRD Insights: Most companies will reopen their offices in phases, CBRE global survey shows
arrow_forward_ios

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

Loading...