Office With Benefits

Inside a New TAMI Office in the Old Financial District


Just six weeks after creative ad firm Mekanism moved into the company’s new two-floor, 11,000-square-foot office at 80 Broad Street in the Financial District, President and CEO Jason Harris invited Commercial Observer to check out the company’s sleek new digs in an exclusive tour.

Mr. Harris and other company officials at the firm with around 30 employees in its New York City office designed the space in collaboration with architects from the Environetics company to create an office that boasts both the surprising trappings of a millennial workplace and the more familiar appeal of a 35th-floor penthouse in a part of town where traditional finance tenants used to dominate. Read More

Sales Beat

Broad Street Development in Contract to Buy Savanna’s 80 Broad Street

80 broad street

Broad Street Development is in contract to buy 80 Broad Street from Savanna for $175 million, The New York Post reported.

Real estate private equity firm Savanna acquired 80 Broad Street after taking control of the property’s senior mortgage at a 12 percent discount on its $75 million value, according to the Post. The building had previously been owned by Swig Equities, which paid $70 million for the property in 2004. Read More

Lease Beat

Haifa-Related Non-Profit Opening in FiDi

80 Broad Street

The American Society of the University of Haifa is setting up shop at 80 Broad Street, Commercial Observer has learned.

The non-profit organization, which promotes American-Israeli interests and values by serving as the bridge between the University of Haifa and Israel-minded Americans, is taking 2,305 square feet on a portion of the 21st floor. The lease is for seven years in the building, which is between Stone and Beaver Streets. Read More

Lease Beat

Revenue Watch Institute Signs Lease at 80 Broad Street

80 Broad Street.

Revenue Watch Institute, a non-profit policy and grantmaking organization, has signed a seven-year lease for a 7,255-square-foot portion of the 18th floor at Savanna’s 80 Broad Street, Commercial Observer has learned. Asking rent for the space was in the high-$30s per square foot.

The nonprofit, which was represented in the transaction by Andrew Stein of Vicus Partners, will relocate its New York headquarters from the seventh floor of 1700 Broadway in approximately three months. Read More

Lease Beat

Savanna Signs Another New Tenant at 80 Broad Street

80 Broad Street

Indus Architect has signed a seven-year lease for a 2,240-square-foot portion of the 16th floor at Savanna’s 80 Broad Street, Commercial Observer has learned.

The tenant will relocate to the Financial District from the 12th floor of 225 West 39th Street immediately. Asking rent at 80 Broad Street ranges from $36 to $42 per square foot. Read More

Lease Beat

Spain-U.S. Chamber of Commerce Takes Space at 80 Broad Street

80 Broad Street

The Spain-U.S. Chamber of Commerce, a private nonprofit, has signed a 10-year, 3,540-square-foot lease for a portion of the 21st floor at Savanna’s 80 Broad Street.

Founded in 1959, The Spain-U.S. Chamber of Commerce was established with a mission to foster economic ties between Spain and the United States, namely promoting the expansion of bilateral trade and investment between the two countries. The organization, which is currently headquartered at the Empire State Building, signed its lease last week and is expected to take possession of its new space on April 1. 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

Nonprofit Young Survival Coalition Leads Pack of Leases at 80 Broad Street

80 Broad Street

The women’s advocacy group Young Survival Coalition signed the biggest of four leases announced at 80 Broad Street.

Andrew Stein of Vicus Partners represented the tenant, a nonprofit, in the 11-year, 5,720-square-foot deal. Hal Stein, Adam Leshowitz, and Todd Stracci of Newmark Grubb Knight Frank represented the landlord, Savanna. YSC will take up a portion of the 17th floor of the lower Manhattan tower. Read More

Lease Beat

Savanna Donates Space at 100 Wall Street for Artist Residency Program

100 Wall Street

Real estate private equity firm Savanna has donated space to the Lower Manhattan Cultural Council for its artist residency program for the second year in a row, it was announced earlier this week. LMCC will utilize 8,409 square feet at 100 Wall Street through summer 2013.

Last year, Savanna donated the entire 11,250-square-foot 21st floor at 80 Broad Street for LMCC’s use. The donated space is used as an incubator for dance, theatre, art and digital media. The organization will incubate up to 20 projects, according to Melissa Levin, director of cultural programs at LMCC. Read More