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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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04/10/18
...Chris Schlank, Daren Hornig and 95 Evergreen Avenue
Savanna and Hornig Capital Partners sold the land under the former Schlitz Brewery building in...
03/21/18
...the rapper's entertainment company has hit the block.
Savanna and the Silvermintz family are looking to sell a newly constructed Chelsea office building...
03/15/18
...a deal to lease roughly 20,000 square feet at Savanna’s 1825 Park Avenue at the corner of 125th Street, Crain’s reported. The bank...
...was a joint venture between Pantzer Properties and Savanna, a real estate investment manager based in New York City. Investcorp, a Bahrain-based investment...
03/05/18
...of its trophy office towers along Bryant Park.
Savanna signed a contract late last week to acquire 5 Bryant Park, also known as 1065 Sixth...
03/05/18
...Street for $906 per square foot ($125 million) in 2016, and Savanna paid $872 per square foot (or $126 million) for 31-35 West 27th Street last year.
In...
...Street for $906 per square foot ($125 million) in 2016, and Savanna paid $872 per square foot (or $126 million) for 31-35 West 27th Street last year.
In...
02/19/18
...Marriott Hotels.
10) Such great Morningside Heights - $176 million
Savanna can count on $176 million in construction financing from Deutsche Bank for its Morningside Heights...
02/19/18
...attracting high-tech manufacturers, film-industry companies and advertising agencies.
Savanna and Hornig Capital Partners had the same idea with their redevelopment of the former...
02/08/18
...Street for $906 per square foot ($125 million) in 2016, and Savanna paid $872 per square foot (or $126 million) for 31-35 West 27th Street last year.
With...
01/24/18
...Junction.
In 2015, Vanbarton bought the ground lease from Savanna in a deal valued at $265 million. The company recently closed its acquisition of 990 Sixth...
01/19/18
...nd Street (Credit: Max Dworkin and Google Maps)
Savanna landed a $176 million construction loan from Deutsche Bank for its planned Morningside Heights condominium...
01/16/18
...as Witkoff, Metro Loft Management, Apollo Global Management, Savanna and Vanbarton Group bid on the property.
The price per square foot would come...
12/13/17
...with 31 West 27th Street and 19 West 44th Street
Savanna completed the raise of nearly $600 million for a new value-add fund, the private-equity firm...
12/08/17
...Lincoln Properties’ 445 Jefferson Street have remained vacant, while Savanna and Hornig Capital Partners leased an entire Bushwick building to the city’s Human...
12/07/17
...the likes of Jeff Sutton at 1552 Broadway ($195 million), Savanna at 106 West 56th Street ($100 million) and Victor Group at 277-281 Fifth Avenue ($269 million).
Other...
11/07/17
...Avenue (Credit: Cove Property Group)
Cove, led by Savanna alum Hoo, and the hedge fund Baupost Group bought the property, located between West...
10/27/17
...board's effort to directly sue the principals of Savanna Real Estate, in a move that further enforces the protections created by limited liability...
Sponsors and resi brokers are going to greater lengths to blur neighborhood lines for bigger returns
10/24/17
...up to 30th Street.”
Kliegerman also pointed to Savanna’s plans for a 170-unit condo at 543 West 122nd Street, which he describes as...
10/23/17
...Lucas McGill. The likes of 60 Guilders, started by Savanna alum Kevin Chisholm and Bastien Broda, outbid old-school retail investors for prime space and...
10/19/17
...earlier this year before the sale went to Savanna Real Estate for $195 million. And now we know where Savanna's leverage on the deal...
10/08/17
...York
Purchase date: 2011
Resale date: 2014
Resale gain: $104,644,050
Seller: Savanna + Feil Organization
Changes prior to sale: underwent cosmetic renovation
15
200 South Wacker Drive
Chicago
Purchase...
10/04/17
...which was seeking cash from private equity firm Savanna that it ultimately couldn’t lock in — fell by the wayside.
Instead, Paramount, which...
10/03/17
...Joseph Cirone and Remy Liebersohn represented the landlords, Savanna and Hornig Capital Partners. Robert Giglio, also of Cushman & Wakefield, represented the city...
...which was seeking cash from private equity firm Savanna that it ultimately couldn’t lock in — fell by the wayside.
Instead, Paramount, which...
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 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.
- Event Financing
- Address 110 William Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 788,241
- Price $ 265,000,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 KBS Capital Advisors, Savanna
- Party 2 Morgan Stanley Mortgage Capital Holdings
notes
The company secured a $265 million in loans for the office property.
- Event Sales
- Address 55 Broadway
- Neighborhood Financial District
- Borough Manhattan
- Square feet 346,000
- Price $ 105,000,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 Harbor Group International
- Party 2 Paramount Group, Savanna
notes
The partnership acquired a minority Preferred-Equity stake of $105 million in the office tower.
- Event Sales
- Address 31-00 47th Avenue
- Neighborhood Long Island City
- Borough Queens
- Square feet 568,000
- Price $ 257,500,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 Jamestown
- Party 2 Savanna
notes
The mixed-use office and retail property sold for $257.7 million.
- Event Financing
- Address 31-00 47th Avenue
- Neighborhood Long Island City
- Borough Queens
- Square feet 568,000
- Price $ 200,000,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 Savanna
- Party 2 Blackstone Group
notes
The company secured a $200 million acquisition loan for its office property.
- Event Financing
- Address 436 Broadway
- Neighborhood Soho
- Borough Manhattan
- Square feet 9
- Price $ 66,200,000
- Publication Date 01/01/2017
- Event Date 11/17/2016
- Party 1 Deutsche Bank
- Party 2 Savanna Real Estate
notes
The company secured a $66.2 million refinance loan for its mixed-use property.
- Event Retail Leasing
- Address 434 Broadway
- Neighborhood SoHo
- Borough Manhattan
- Square feet 5,800
- Publication Date 10/01/2016
- Event Date 08/15/2016
- Party 1 Savanna
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Andrew Kahn
- Party 2 Official Made in Italy
- Party 2 Brokerage Nest Seekers International
- Party 2 Broker Lisa Levitt
notes
The Italian goods store signed a short-term lease.
- Event Sales
- Address 45 West 139th Street
- Neighborhood East Harlem
- Borough Manhattan
- Price $ 315,000,000
- Publication Date 08/01/2016
- Event Date 06/17/2016
- Party 1 L+M Development Partners, Savanna
- Party 1 Brokerage Savills Studley
- Party 1 Broker Jeffrey Baker, Graham Hobbs
- Party 2 Fairstead Capital
- Party 2 Brokerage Ariel Property Advisors
- Party 2 Broker Victor Sozio, Shimon Shkury
notes
The multifamily residential building portfolio sold for $315 million.
- Event Sales
- Address 106 West 56th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 90,000
- Price $ 48,700,000
- Price per foot $ 541.11
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 America Press
- Party 2 Savanna, Atom Assets
notes
The 36-story building sold for $48.7 million.
- Event Financing
- Address 1825 Park Avenue
- Neighborhood Harlem
- Borough Manhattan
- Square feet 135,000
- Price $ 45,000,000
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 Savanna
- Party 1 Brokerage Mission Capital Advisors
- Party 1 Broker Jonathan More, Ari Hirt, Jamie Matheny
- Party 2 TPG
notes
The company secured a $45 million loan.
- Event Financing
- Address 106 West 56th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 36,000
- Price $ 40,400,000
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 Savanna, Atom Assets
- Party 1 Brokerage JLL
- Party 1 Broker Kellogg Gaines, Aaron Niedermayer
- Party 2 United Overseas Bank
notes
The company secured a $40.4 million loan.
- Event Financing
- Address 3080 Broadway
- Neighborhood Harlem
- Borough Manhattan
- Square feet 250,000
- Price $ 34,600,000
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 Savanna
- Party 2 Pacific Western Bank
notes
The company secured a $34.6 million loan.
- Event Office Leasing
- Address 110 William Street
- Neighborhood Seaport
- Borough Manhattan
- Square feet 11,410
- Publication Date 12/01/2015
- Event Date 10/22/2015
- Party 1 Savanna, KBS Strategic Opportunity REIT
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Hal Stein, Todd Stracci, Travis Wilson
- Party 2 GLSEN
- Party 2 Brokerage Savills Studley
- Party 2 Broker Jarod Stern, Edmund Solarsh
notes
The company signed a lease for the entire 30th floor.
- Event Office Leasing
- Address 110 William Street
- Neighborhood Seaport
- Borough Manhattan
- Square feet 10,969
- Publication Date 12/01/2015
- Event Date 10/22/2015
- Party 1 Savanna, KBS Strategic Opportunity REIT
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Hal Stein, Todd Stracci, Travis Wilson
- Party 2 Perseus
- Party 2 Brokerage Newmark Grubb Knight Frank
- Party 2 Broker Jamie Jacobs
notes
The company signed a lease for the entire 31st floor.
- Event financing
- Address 540 West 26th Street
- Neighborhood West Chelsea
- Borough Manhattan
- Square feet 85,421
- Price $ 115,000,000
- Publication Date 11/01/2015
- Event Date 09/22/2015
- Party 1 Savanna, Silvermintz Family
- Party 1 Brokerage RM Capital Management
- Party 1 Broker Romano Tio, Marc Sznajderman, Steven Weiss
- Party 2 Deutsche Bank
notes
The partnership secured $115 million of first mortgage construction financing.
- Event Office Leasing
- Address 110 William Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 4,475
- Publication Date 06/01/2015
- Event Date 04/22/2015
- Party 1 Savanna
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Hal Stein, Todd Stracci, Travis Wilson
- Party 2 Smarsh, Inc.
- Party 2 Brokerage Newmark Grubb Knight Frank
- Event Sales
- Address 2417 Third Avenue
- Neighborhood Mott Haven
- Borough Bronx
- Square feet 175,000
- Price $ 31,000,000
- Price per foot $ 177.14
- Publication Date 04/01/2015
- Event Date 02/20/2015
- Party 1 Madhatters Realty
- Party 1 Brokerage DY Realty Services
- Party 1 Broker Jaber, Ruben Martinez
- Party 2 Hornig Capital Partners and Savanna
- Party 2 Brokerage DY Realty
- Party 2 Broker Jaber, Ruben Martinez
notes
The office building sold for $31 million.
- Event Sales
- Address 461 West 14th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 24,682
- Price $ 47,000,000
- Price per foot $ 1,904.22
- Publication Date 02/01/2015
- Event Date 12/23/2014
- Party 1 Real Estate Equities, Alfieri Development
- Party 2 Savanna
notes
The retail building sold for $47 million.
- Event Sales
- Address 540 West 26th Street
- Neighborhood Chelsea
- Borough Manhattan
- Price $ 24,700,000
- Publication Date 11/01/2014
- Event Date 09/17/2014
- Party 1 293 Tenth Avenue
- Party 2 Savanna
- Event Office Leasing
- Address 80 Broad Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 11,250
- Publication Date 07/01/2014
- Event Date 05/22/2014
- Party 1 Savanna
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Hal Stein, Todd Stracci, Adam Leshowitz
- Party 2 Imaginary Forces
- Party 2 Brokerage Newmark Grubb Knight Frank
- Party 2 Broker Scott Brown
notes
The entertainment and design studio signed a 10-year lease for part of the 20th floor.
- Event Office Leasing
- Address 80 Broad Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 4,765
- Publication Date 06/01/2014
- Event Date 04/22/2014
- Party 1 Savanna
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Howard Stein, Todd Stracci, Adam Leshowitz
- Party 2 Brand Learning
- Party 2 Brokerage Colliers International
- Party 2 Broker Seth Hecht
notes
The marketing consultancy signed a new seven-year lease for part of the 21st floor.
- Event Sales
- Address 110 William Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 928,000
- Price $ 261,100,000
- Price per foot $ 281.36
- Publication Date 06/01/2014
- Event Date 04/22/2014
- Party 1 Swig Equities, Dubai Investment Group
- Party 1 Brokerage Eastdil Secured
- Party 1 Broker Douglas Harmon, Adam Spies
- Party 2 Savanna, KBS Capital Advisors
- Party 2 Brokerage Hunton & Williams
- Party 2 Broker Laurie Grasso, Susan Saslow, Carl Schwartz
notes
The property sold for $261.1 million, or $281 per square foot.
- Event Office Leasing
- Address 100 Wall Street
- Neighborhood Seaport
- Borough Manhattan
- Square feet 6,836
- Publication Date 05/01/2014
- Event Date 03/22/2014
- Party 1 Savanna
- Party 1 Brokerage JLL
- Party 1 Broker Mitchell Konsker, Scott Cahaly, Kyle Young
- Party 2 Pixable
- Party 2 Brokerage Newmark Grubb Knight Frank
- Party 2 Broker Jonathan Tootell
notes
The tech company signed a new 10-year lease for part of the 18th floor.
- Event Office Leasing
- Address 80 Broad Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 2,240
- Publication Date 05/01/2014
- Event Date 03/22/2014
- Party 1 Savanna
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Howard Stein, Todd Stracci, Adam Leshowitz
- Party 2 Indus Architect
- Party 2 Brokerage Fountain Realty Group
- Party 2 Broker Jovan Johnson
notes
The forensic architectural firm signed a new seven-year lease for part of the 16th floor.
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...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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