The Investment Property

245 and 249 West 17th Street are two adjacent loft-style buildings located between 7th and 8th Avenues, one block from Google’s 111 8th Avenue and a short distance from Chelsea Market and the Meatpacking District. Constructed in 1909, 245 West 17th Street is a 12-story, 140,000 SF office and retail building featuring 12,000 SF floor plates ideal for single or multi-floor tenants. 249 West 17th Street, a 6-story, 145,000 SF office building, was built in 1902 and features 24,000 SF floor plates with exceptional column spacing and 14 foot ceiling heights on the office floors. Both properties feature 17 foot ceiling heights on the ground and basement floors.

The Investment Property

After acquiring the properties in 2012, Savanna planned to implement an intensive capital improvement program that would completely transform both buildings. The project included a new lobby and security system, water-cooled HVAC systems, new elevators, high-end core bathrooms, and a restored façade and roof.

ESG