Lease Beat

SQN Capital Signs Lease at 100 Wall Street

100 Wall Street.

Alternative fund manager SQN Capital Management has signed a 10-year lease for a 7,293-square-foot portion of the 28th floor of Savanna’s 100 Wall Street, Commercial Observer has learned.

Asking rent for the space was $49 per square foot. The tenant will relocate from its current headquarters at 110 William Street. 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

Assignments

Savanna Puts Twitter’s NYC HQ Building on the Market

245-247 West 17th Street

Following a $29.4 million gut renovation, Savanna has put 245-249 West 17th Street on the market, hiring Eastdil Secured to sell the 12-story office tower and adjacent six-story mixed-used building, according to marketing materials obtained by Commercial Observer.

Together the Gold LEED-certified buildings between Seventh and Eighth Avenues and 17th and 18th Streets have 281,294 square feet, including 18,945 square feet of ground-floor retail space. Read More

Lease Beat

Salon Media Among New Leases at 31 Penn Plaza

31 Penn Plaza

Salon Media Group is among a group of new tenants to take space at Savanna’s 31 Penn Plaza, Commercial Observer has learned. The operator of news site Salon.com has signed a five-year lease for 6,523 square feet on building’s sixth floor.

The five deals total close to 46,000 square feet. In the largest of the transactions, marketing technology company RevTrax signed a 10-year, 20,726-square-foot lease on the seventh floor. On the same floor, New Audio, a high-end audio accessories brand, signed a 10-year, 6,370-square-foot lease. 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

Photo App Startup Signs 100 Wall Street Lease

100 Wall Street.

Pixable, the developer of a mobile photo application of the same name, has signed a five-year lease for a 6,836-square-foot portion of the 18th floor of Savanna’s 100 Wall Street, Commercial Observer has learned.

The company’s product aggregates photos from various social networks and sorts them into feeds. Founded in 2009, Pixable was acquired by SingTel in 2012 for $26.5 million, according to CrunchBase, and is currently headquartered at 137 Varick Street. Read More

Mortgage Observer

Pembrook Originates $22M Bridge Loan for Savanna’s DoBro Buy

Stuart Boesky

New York-based debt and equity provider Pembrook Capital Management closed a $21.8 million bridge loan to New York-based real estate investor Savanna, Mortgage Observer has learned. Savanna will acquire a development site at 141 Willoughby Street in Downtown Brooklyn with the funds, said Pembrook founder Stuart Boesky.

The three-year loan has a floating rate; Pembrook declined to provide the exact rate. City records show Savanna paid $28 million to acquire the property, at Gold Street, from prior owner the Institute of Design and Construction. 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

Sales Beat

Savanna Pays $60M for Retail Space at 10 Madison Square West

10-madison-square-west

Private equity and asset management firm Savanna has purchased the 20,676 square foot retail condominium at 10 Madison Square West (1107 Broadway) from The Witkoff Group and Morgan Stanley Real Estate Investing for $60 million.

The Witkoff/Morgan Stanley team is currently redeveloping the 16-story building into a 23-story, 125-unit luxury condominium. The retail space will consist of roughly 12,000 square feet of prime corner ground floor space and an additional basement space.  

Read More

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