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Savanna
Savanna is a real estate private equity firm and asset management company that pursues real estate equity and debt investments. The company was founded in 1992 by Christopher Schlank, and in August 2014 was served with two separate lawsuits from sites they were developing.
In 2006, they created Savanna Real Estate Fund I, LP, a discretionary institutional real estate private equity fund, and have accumulated around $2.3 billion in total capital across 11.9 million square feet of real estate property. Savanna has consistently achieved risk-adjusted returns at all points in the market cycle by targeting and investing in real estate in the Northeast Corridor.
The firm recently unveiled renderings for a nine-story commercial building at 540 West 26th Street in Chelsea, complete with a two-story at gallery. Lehmann Maupin Gallery sought $10 million in compensatory damages and an undisclosed sum for punitive damages, claiming that the landlords lack a valid permit to demolish the building. Savanna was also hit with a $7.5 million breach of contract lawsuit by the board of managers at 141 Fifth Avenue, alleging professional negligence.
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02/15/19
Amid opposition, Amazon says ‘adios’ to LIC site for HQ2 So long, Big Apple. Amazon has scrapped its plans to build a new campus in...
02/14/19
...the biggest loser of them all might be Savanna, the owner of the One Court Square office tower where Amazon planned to temporarily...
02/14/19
...to lease 1 million square feet of space at Savanna’s One Court Square office tower. The tech giant also tapped TF Cornerstone to...
02/11/19
It had been a long two years, but the city’s investment sales market finally turned a corner in 2018. Last year saw the total value...
02/05/19
...giant's plan to lease 1 million square feet at Savanna...
It had been a long two years, but the city’s investment sales market finally turned a corner in 2018. Last year saw the total value...
01/28/19
Well that was fast. Anthony Scaramucci’s SkyBridge Capital has found a new partner for its $3 billion Opportunity Zone fund, less than two weeks after...
01/28/19
...Building at 2417 Third Avenue in Mott Haven with Savanna...
01/25/19
...Lorber’s New Valley converted to luxury condos – Savanna in 2017 sold a retail condo leased to PetSmart for $60 million to the real estate...
01/10/19
...Bonafide Estate’s 41 and 45 West 25th Street, and Savanna’s 31 West 27th Street. Elie Reiss of Skylight Leasing represented the tenant while Danny...
12/26/18
...square feet of retail space.
8. 543 West 122nd Street, Savanna | $392.54 million
Dubbed the Vandewater, the Morningside Heights project will have 183 units. Savanna bought the...
12/23/18
Chicago’s bid to land Amazon’s second headquarters included a promise of at least $2.3 billion in incentives and special service permits for work at HQ2...
12/17/18
...the Upper West Side.
7. 5 Bryant Park, $640 million
Buyer: Savanna
Seller: Blackstone Group
Brokerage: JLL, HFF
The office tower at 5 Bryant Park had been...
12/17/18
...th Street and Christopher Schlank (Credit: Google Maps)
Savanna is officially the new owner of 48 West 25th Street.
The firm has closed on...
12/13/18
...May sold the 34-story, 665,000-square-foot 5 Bryant Park to Savanna for $640 million.
In 2015, EQ Office – formerly known as Equity Office Properties – sold 3 Bryant Park...
12/11/18
...and 45 West 25th Street, and 6,044 square feet at Savanna’s 31 West 27th Street.
Founded in 2015 by Amol Sarva and Edward Shenderovich, Knotel has...
12/07/18
...Amazon will initially lease 1 million square feet at Savanna’s 1 Court Square office tower – Normandy last year paid about $54 million to buy a...
12/06/18
...Christopher Schlank and 385 Gold Street (Credit: Google Images)
Savanna has purchased a vacant lot in Downtown Brooklyn from the city for an unnamed...
12/05/18
A partnership between Harbor Group International and Azure Partners acquired the tallest residential building in Westchester for $259 million. The property, known at Skyline New...
11/29/18
...take about 1 million square feet of space at Savanna...
11/23/18
...approximately 1 million square feet of office space at Savanna...
11/20/18
...iconic One Court Square office tower, where landlord Savanna last week announced it had signed a letter of intent to lease 1 million square...
11/20/18
...is marketing the building.
The site is near Savanna...
11/16/18
Amazon announces plans to split its HQ2 between Long Island City and Crystal City After months of speculation and unconfirmed reports, Amazon finally made its...
11/14/18
...possible location for Amazon’s new headquarters. However, Savanna announced on Tuesday that Amazon had instead agreed to lease one million square feet...
Savanna Partners, General Counsel
430 Park Avenue, 12th Floor, New York, NY, (212) 229-0101
430 Park Avenue, 12th Floor, New York, NY, (212) 229-0101
Valerie Kitay is a New York City-based lawyer and general counsel at Savanna...
Savanna, Founder, Managing Partner
430 Park Avenue, New York, NY, 212.229.0101
430 Park Avenue, New York, NY, 212.229.0101
Christopher Schlank is founder and managing partner at Savanna, a private equity firm...
Savanna, Co-managing partner
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
Nicholas Bienstock is co-managing partner at Savanna private equity firm with an eye...
Savanna, Vice President, Financing and Acquisitions
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
Edgar Cabrera is vice president of finance and acquisitions at Savanna private equity...
Savanna, Vice President
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
Thomas Farrell is vice president at Savanna private equity firm, where he oversees...
- Event Office Leasing
- Address 2417 Third Avenue
- Neighborhood Mott Haven
- Borough Bronx
- Square feet 40,481
- Publication Date 02/01/2019
- Event Date 01/28/2019
- Party 1 Savanna, Hornig Capital
- Party 1 Brokerage Cushman & Wakefield, JRT Realty
- Party 1 Broker Mitch Arkin, Omar Sozkesen, Ellen Israel, Lauren Calandriello
- Party 2 Great Performances
- Party 2 Brokerage Cushman & Wakefield
- Party 2 Broker David Lebenstein, Debra Wollens
notes
The catering company inked a 20-year lease for the Mott Haven space.
- Event Sales
- Address 48 West 25th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 97,554
- Price $ 90,000,000
- Publication Date 12/23/2018
- Event Date 12/17/2018
- Party 1 Klapper family
- Party 2 Savanna
notes
The buyer bought the Chelsea property for $90 million.
- Event Office Leasing
- Address 31 West 27th Street
- Neighborhood Nomad
- Borough Manhattan
- Square feet 17,112
- Publication Date 12/23/2018
- Event Date 12/18/2018
- Party 1 Savanna
- Party 1 Brokerage CBRE
- Party 1 Broker Meghan Allen, Paul Amrich, Neil King, Patrice Meagher
- Party 2 Stonehill & Taylor Architects
- Party 2 Brokerage Newmark Knight Frank
- Party 2 Broker Josh Berg, Michael Dreizen
notes
The architect signed a deal to renew its lease for the Nomad location.
- Event Financing
- Address 48 West 25th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 97,554
- Price $ 47,900,000
- Publication Date 12/23/2018
- Event Date 12/17/2018
- Party 1 Savanna
- Party 2 Mesa West Capital
notes
The buyer secured an acquisition loan of $47.9 million for the Chelsea property.
- Event Office Leasing
- Address 19 West 44th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 11,000
- Publication Date 12/16/2018
- Event Date 12/13/2018
- Party 1 Savanna
- Party 1 Brokerage JLL
- Party 1 Broker Mitch Konsker, Ben Bass, Barbara Winter, Kip Orban
- Party 2 Harman
- Party 2 Brokerage Savills Studley
- Party 2 Broker Christopher Foerch, Marcus Arredondo
notes
The design and engineering firm inked a lease for the Midtown building.
- Event Office Leasing
- Address 31 West 27th Street
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 6,044
- Publication Date 12/16/2018
- Event Date 12/11/2018
- Party 1 Savanna
- Party 1 Brokerage CBRE
- Party 1 Broker Patrice Meagher, Paul Amrich, Neil King, Meghan Allen
- Party 2 Knotel
- Party 2 Brokerage Colliers International
- Party 2 Broker Michael Cohen, John Pavone, Jessica Verde
notes
The co-working firm signed a lease for the Flatiron space.
- Event Office Leasing
- Address 19 West 44th Street
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 5,629
- Publication Date 10/22/2018
- Event Date 10/15/2018
- Party 1 Savanna
- Party 1 Brokerage JLL
- Party 1 Broker Barbara Winter, Ben Bass, Kip Orban
- Party 2 Ramco Properties
- Party 2 Brokerage CBRE
- Party 2 Broker Sarah Pontius, Alex D'Amario
notes
The brokerage signed a lease for the Grand Central building.
- Event Retail Leasing
- Address 434 Broadway
- Neighborhood Soho
- Borough Manhattan
- Square feet 7,121
- Publication Date 08/20/2018
- Event Date 08/14/2018
- Party 1 Savanna
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Andrew Kahn, Christian Stanton
- Party 2 Champion
- Party 2 Brokerage Cushman & Wakefield
- Party 2 Broker Jim Downey
notes
The athletic apparel company inked a lease for the Soho location.
- Event Sales
- Address 540 West 26th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 167,000
- Price $ 257,000,000
- Publication Date 08/06/2018
- Event Date 08/01/2018
- Party 1 Savanna, Silvermintz family
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Adam Spies, Doug Harmon, Joshua King, Kevin Donner, Adam Doneger, Anthony Pasqual
- Party 2 Ramrock Real Estate
- Party 2 Brokerage Lincoln Property
- Party 2 Broker Jim Stein
notes
The buyer acquired the Chelsea property for $257 million.
- Event Office Leasing
- Address 540 West 26th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 67,100
- Publication Date 07/16/2018
- Event Date 07/13/2018
- Party 1 Savanna Real Estate Funds
- Party 2 Roc Nation
notes
The entertainment company inked a lease for the Chelsea space.
- Event Financing
- Address 5 Bryant Park
- Neighborhood Times Square
- Borough Manhattan
- Square feet 682,988
- Price $ 463,000,000
- Publication Date 06/04/2018
- Event Date 05/23/2018
- Party 1 Savanna
- Party 1 Brokerage JLL, HFF
- Party 1 Broker Kellogg Gaines, Aaron Niedermayer, Mike Tepedino, Chris Peck
- Party 2 Deutsche Bank
notes
The buyer secured a financing loan of $463 million to purchase a Manhattan property.
- Event Sales
- Address 5 Bryant Park
- Neighborhood Times Square
- Borough Manhattan
- Square feet 682,988
- Price $ 640,000,000
- Publication Date 06/04/2018
- Event Date 05/23/2018
- Party 1 Blackstone Group
- Party 1 Brokerage JLL, HFF
- Party 1 Broker Anthony Ledesma, Peter Nicoletti, Andrew Scandalios, Graham Stephens
- Party 2 Savanna
notes
The buyer secured the Times Square property for $640 million.
- Event Office Leasing
- Address 31 West 27th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 23,000
- Publication Date 05/15/2018
- Event Date 05/08/2018
- Party 1 Savanna
- Party 1 Brokerage CBRE
- Party 1 Broker Paul Amrich, Patrice Meagher, Neil King, Meghan Allen
- Party 2 Knotel
- Party 2 Brokerage Newmark Knight Frank
- Party 2 Broker Michael Morris, Greg DiGioia
notes
The flexible-office company inked a 7-year lease for the 4th and 10th floors of the Chelsea building.
- Event Office Leasing
- Address 2417 Third Avenue
- Neighborhood Mott Haven
- Borough Bronx
- Square feet 8,645
- Publication Date 05/07/2018
- Event Date 05/01/2018
- Party 1 Savanna, Hornig Capital Partners
- Party 1 Brokerage Cushman & Wakefield, JRT Realty Group
- Party 1 Broker Mitchell Arkin, Omar Sozkesen, Myles Fennon, Ellen Israel, Lauren Calandriello, Greg Smith
- Party 2 Lumiode
- Party 2 Brokerage SquareFoot
- Party 2 Broker Oliver Hunt, jason Majlessi
notes
The semiconductor technology startup inked a lease in Mott Haven.
- Event Sales
- Address 95 Evergreen Avenue
- Neighborhood Bushwick
- Borough Brooklyn
- Square feet 153,000
- Price $ 81,300,000
- Publication Date 04/17/2018
- Event Date 04/10/2018
- Party 1 Savanna, Hornig Capital
- Party 2 Ramrock
notes
The buyer secured the Bushwick property for $81.3 million.
- Event Financing
- Address 525 West 122nd Street
- Neighborhood Morningside Heights
- Borough Manhattan
- Square feet 451,000
- Price $ 176,000,000
- Publication Date 02/06/2018
- Event Date 01/19/2018
- Party 1 Savanna
- Party 2 Deutsche Bank
notes
The developer secured a $176 million loan for its planned 32-story building in Morningside Heights.
- Event Financing
- Address 19 West 44th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 303,943
- Price $ 92,000,000
- Publication Date 10/23/2017
- Event Date 10/18/2017
- Party 1 Savanna
- Party 2 Mesa West
notes
The real estate developer acquired a $92 million mortgage for the Berkley Building.
- Event Sales
- Address 19 West 44th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 303,943
- Price $ 195,000,000
- Price per foot $ 642.00
- Publication Date 10/23/2017
- Event Date 10/18/2017
- Party 1 Deka Immobilien
- Party 1 Brokerage Colliers International
- Party 1 Broker Richard Baxter, Robert Stamm
- Party 2 Savanna
notes
The real estate developer and investment manager acquired the 16-story building for $195 million.
- Event Financing
- Address 106 West 56th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 90,000
- Price $ 100,000,000
- Publication Date 10/01/2017
- Event Date 08/18/2017
- Party 1 Savanna; Atom Assets
- Party 1 Brokerage JLL
- Party 2 United Overseas Bank; Canyon Partners Real Estate
notes
The partnership acquired a $100 million construction loan for their office development.
- Event Office Leasing
- Address 95 Evergreen Avenue
- Neighborhood Bushwick
- Borough Brooklyn
- Square feet 158,150
- Publication Date 09/15/2017
- Event Date 09/12/2017
- Party 1 Savanna, Hornig Capital Partners
- Party 2 NYC Department of Citywide Administrative Services
notes
The city agency signed a 20-year lease for the entire building.
- Event Financing
- Address 31 West 27th Street
- Neighborhood NoMad
- Borough Manhattan
- Square feet 106,800
- Price $ 83,500,000
- Publication Date 09/01/2017
- Event Date 08/15/2017
- Party 1 Savanna
- Party 2 Aareal Capital
notes
The vertically integrated real estate investment manager acquired a loan.
- Event Sales
- Address 31 West 27th Street
- Neighborhood NoMad
- Borough Manhattan
- Square feet 144,500
- Price $ 126,000,000
- Publication Date 08/01/2017
- Event Date 07/14/2017
- Party 1 Westbrook Partners
- Party 1 Brokerage Hodges Ward Elliott
- Party 1 Broker William Silverman, Paul Gillen, Daniel Parker
- Party 2 Savanna
notes
The buyer acquired a new property
- Event Office Leasing
- Address 434 Broadway
- Neighborhood Soho
- Borough Manhattan
- Square feet 7,205
- Publication Date 07/01/2017
- Event Date 05/16/2017
- Party 1 Savanna
- Party 1 Brokerage JLL
- Party 1 Broker Mitchell Konsker, Kip Orban, Benjamin Bass
- Party 2 Elysium Health
- Party 2 Brokerage CBRE
- Party 2 Broker Rob Wizenberg
notes
The consumer health company signed a 8-year lease for the entire 2nd floor at $75 per square foot.
- Event Office Leasing
- Address 1825 Park Avenue
- Neighborhood Harlem
- Borough Manhattan
- Square feet 9,276
- Price per foot $ 45.00
- Publication Date 06/01/2017
- Event Date 04/17/2017
- Party 1 Savanna
- Party 1 Brokerage JRT Realty, Cushman & Wakefield
- Party 1 Broker Ellen Israel, Lauren Calandriello, Greg Smith; Mitchell Arkin, Omar Sozkesen
- Party 2 NADAP Inc.
- Party 2 Brokerage Norman Bobrow & Company
- Party 2 Broker Joshua R. Berger, Alex Lubin
notes
The Career Compass Program signed a 6-year lease for part of the 5th floor at this historic building in Harlem.
- Event Financing
- Address 110 William Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 928,000
- Price $ 264,700,000
- Publication Date 05/01/2017
- Event Date 03/06/2017
- Party 1 KBS Capital Advisors and Savanna
- Party 2 Morgan Stanley
notes
The entity secured a refinance loan of $264.7 million, consolidating a loan for $205 million and two others totaling $29.85 million.
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09/22/16
...and Mental Hygiene took over 60,000 square feet at Savanna’s One Court Square tower in Long Island City. The department will sublease two...
...last year totaling $115 million from Deutsche Bank for Savanna and the Silvermintz family’s commercial development project at 540 West 26th Street in Chelsea...
...Mott Haven, such as real estate investment firm Savanna and Hornig Capital Partners’ eight-story loft project at 2415 Third Avenue.
Meanwhile, a number of...
...private funds such as Blackstone, Rockpoint Group and Savanna were among the few players with money to spend. While banks and insurers were...
...few landlords had rates that high. For example, Savanna and L&M Development Partners, which in 2012 purchased the Savoy, a 1,802-unit complex...
...sale of One Court Square, the Citigroup building. Savanna, a real estate private equity firm, reached an agreement to buy a controlling interest...
...Twitter committed to more than 140,000 square feet at Savanna’s 245-249 West 17th Street, located between Seventh and Eighth avenues. The social networking...
...deal,’ ” said Newmark’s Roseman, who represented landlord Savanna. “There was none of the usual grandstanding.” Roseman declined to disclose the taking rent...
...Square from institutional real estate private equity firm Savanna, while the investment advisory firm Emmes Asset Management agreed to pay $154 million for Melohn...
...Just two years ago, real estate investment company Savanna owned the building and was charging rent rates in the mid-$40s range, data...
...is too high for the market.
Sellers: Savanna and Monday Properties
Address: 386 Park Avenue South
Total profit: $39.4 million
Annual return on equity...
...feet in two adjacent buildings that investment firm Savanna acquired in November at 245-249 West 17th Street.
Also, as TRD reported last month...
...s little-known Rainbow Estates Group in Brooklyn and Savanna Partners in Midtown, which have also been on a tear, acquiring properties in Manhattan...
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