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

Lease Beat

Juice Generation Makes Brooklyn Foray

(Image: Juice Generation)

Juice Generation is moving into 210 Bedford Avenue in Williamsburg after signing a 10-year lease for its 880 square feet ground floor retail space last Friday.

“They want to hit the ground running and want to be open late fall or early December,” Amy Zhen of Newmark Grubb Knight Frank, who represented landlord Savanna Real 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