Lease Beat

Another Tech Support Firm Signs at 100 Wall Street

100

Apex Systems, Inc. has signed a new seven-year, 4,318-square-foot lease at Savanna’s 100 Wall Street, Commercial Observer has learned.

The company, a leading provider of information tech staffing, follows a string of tech/creative tenants that have filled roughly 50,000 square feet in the Downtown building over the last 15 months.

Savanna’s Downtown portfolio, which consists Read More

The Sit-Down

Kevin Hoo’s Tweet Victory

Kevin Hoo

Kevin Hoo’s prior experience with UBS AG and later Tishman Speyer allowed him to slip seamlessly into a role as a vice president at Savanna in 2011, where as an asset manager he handles everything from financing acquisitions to choosing building finishes, leasing them up and handling day-to-day operations. “We run a fairly lean team here,” he said. “My role has been to play the jack of all trades.” At Tishman Speyer, Mr. Hoo’s acquisition, development, design and construction roles saw him focusing on properties as iconic as Rockefeller Center and the MetLife Building, but as he tells it, Savanna’s recent repositioning of 245 and 249 West 17th Street, now home to Twitter’s New York City headquarters, is the most exciting endeavor he has been a part of. Read More

Lease Beat

Twitter Inks Deal for New York City Headquarters

twitter-icon

Twitter has leased 141,000 square feet of space for its New York City headquarters at Savanna’s 245 and 249 West 17th Street in Chelsea.

Landing the major tenant is a big payoff for Savanna, which purchased the properties in November 2012 for a reported $76 million and re-launched them in November 2013 following a $21 million overhaul.  

Read More

Commercial Breaks

Savanna Closes 580K SF of Leasing in 2013

31 Penn Plaza

Real estate private equity firm Savanna closed over 580,000 square feet of leasing in its portfolio across 59 deals in 2013, The Commercial Observer has learned.

“The significant number of lease renewals, expansions and new leases is evidence of the brokerage and corporate communities’ confidence in Savanna properties,” said Nicholas Bienstock, managing partner at Savanna, in a prepared statement. “We thank the brokerage community for their continued support in these transactions and look forward to working together again in 2014.” Read More

Lease Beat

Room & Board Cuts Deal for Chelsea Flagship

Room & Board

Room & Board has leased 60,000 square feet for its new Manhattan flagship at Savanna’s 249 West 17th Street in Chelsea — the first lease at the building since a major renovation.

The American home furnishings retailer will occupy the entire ground, second and third floors, with its entrance on West 18th Street, between Seventh Read More

Sales Beat

Savanna Pays $75.8M for Adjacent Chelsea Loft Buildings

249 West 17th Street -- the former Siegel-Cooper warehouse

New York-based real estate private equity and asset management firm Savanna has closed on its acquisition of two adjacent loft-style office buildings at 245 West 17th Street and 249 West 17th Street in Chelsea for $75.8 million, city records show.

Originally a dry goods warehouse and wagon house for the Siegel-Cooper Company department store, the property at 249 West 17th Street is a 145,000-square-foot, six-story building.  The other property, equal in square footage, is 12 stories high.

The two properties have a combined 40,000 square feet of office space and are located within a couple blocks of Chelsea Market, the Meatpacking District and Google’s 111 Eighth Avenue. Read More