SDC Capital Partners Inks 23K-SF Lease at Savanna’s 799 Broadway

SDC Capital Partners has signed a new office lease just south of Manhattan’s Union Square, Commercial Observer has learned.

The global digital infrastructure investment firm is taking 22,531 square feet of office space at Savanna’s 799 Broadway, according to a source with knowledge of the deal. The lease seems to represent a minor relocation for SDC, which lists its current offices a block north at 817 Broadway.

For its new office, the firm signed a 12-year lease on the entire 12th floor of 799 Broadway, bringing the property on the corner of East 11th Street to 100 percent occupancy, Savanna told CO. 

Savanna did not disclose the name of the building’s new tenant, but a source confirmed it was SDC. 

SDC did not immediately respond to CO’s request for comment.

The asking rent for the new lease was not disclosed. The average asking rent for office space in the Union Square/Flatiron District area was $86.96 per square foot during the second quarter, according to data from Newmark. 

The tenant was represented by Cushman & Wakefield‘s Evan Algier, David Mainthow, Michael Montesi and Nick Masi. Savanna was represented by JLL‘s Benjamin Bass, Mitchell Konsker and Thomas Swartz. Both C&W and JLL declined to comment. 

“Achieving full office occupancy at 799 Broadway is a tremendous accomplishment for both Savanna and our partner, Anastacia, and a testament to the quality of the asset, its exceptional location and the strength of demand for best-in-class office space,” Brian Reiver, chief real estate officer at Savanna, said in a statement. “When we acquired the property together, we recognized the opportunity to build upon an already strong foundation and create one of Lower Manhattan’s premier office destinations.” 

Built in 2022, 799 Broadway is a 12-story office building with tenants including venture capital firm Lightspeed and investment firm Wellington Management. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.