Press Releases

ScienceIO Opening First NYC Office at 11KSF in Midtown South

August 9, 2022

BY CELIA YOUNG AUGUST 9, 2022 Data science company ScienceIO inked a deal to open its first New York City office on the entire top floor of 24-28 West 25th Street and will relocate most of its business from Boston, Commercial Observer has learned. ScienceIO, which builds software for health care companies and hospitals, signed

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Webster Bank Expands Manhattan Lease

March 14, 2022

By Jackson Chen March 14, 2022 Savanna owns the 24-story Midtown tower. Webster Bank has renewed its lease at 360 Lexington Ave. in Manhattan’s Midtown market, even expanding it to occupy two full floors. The bank leased a total of 30,622 square feet of office space, combining an extension of its existing 22,522-square-foot lease and

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Savanna Announces Webster Bank Expansion at 360 Lexington

March 11, 2022

March 11, 2022 – NEW YORK – Savanna, a New York City-based real estate investment manager, owner/operator and developer, has leased 30,622 square feet of office space to Webster Bank at 360 Lexington Avenue, a 268,383-square-foot, 24-story office tower in Midtown Manhattan. Webster Bank took an additional 8,100 square feet and extended the term on

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Arevon Energy, Investment Firm Teza Technologies Snag Space at 521 Fifth Avenue

February 1, 2022

BY CELIA YOUNG The renewables firm Arevon Energy, investor Teza Technologies and commercial mortgage lender Berkadia snapped up a total of 30,000 square feet of space at Savanna’s 521 Fifth Avenue, the New York Post first reported. Berkadia relocated within the 39-story office building to 15,000 square feet across the entire 16th floor according to

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Savanna Announces New Leasing Activity Totaling Over 30,000 Square Feet at 521 Fifth Avenue

January 31, 2022

January 31, 2022 – NEW YORK – Savanna, a New York City-based real estate investment manager, owner/operator and developer, announced two new leases and a lease extension and expansion totaling 30,300 square feet of space at 521 Fifth Avenue, a 498,711-square-foot, 39-story office building near Grand Central Station on the corner of 43rd Street and

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Construction Tops Out At 141 Willoughby Street In Downtown Brooklyn

November 17, 2021

BY: SEBASTIAN MORRIS A new 24-story commercial tower at 141 Willoughby Street in Downtown Brooklyn has officially topped out. From developer Savanna Real Estate, the new property comprises 400,000 square feet with a mix of Class A office space and retail on the lower floors. Construction broke ground in 2020 and is on track to

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Nicholas Bienstock – Managing partner at Savanna

November 15, 2021

How much longer can this go on? In June it felt like there was substantial momentum toward a return to normal life in New York City. The delta variant definitely slowed that down here in New York City and across the United States. That being said, the post-Labor Day change in New York City in

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Savanna Celebrates Topping Out at 141 Willoughby in Downtown Brooklyn

November 9, 2021

SAVANNA CELEBRATES TOPPING OUT AT 141 WILLOUGHBY IN DOWNTOWN BROOKLYN Savanna celebrated the topping out of 141 Willoughby Street in Downtown Brooklyn with the project team on November 9, 2021. 141 Willoughby (https://onefortyone.nyc/) is a state-of-the-art, WELL Health-Safety, WiredScore and LEED Certified 400,000 square foot trophy office and retail development designed by Fogarty Finger/SLCE Architects,

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Federal Agency, French Bakery Take 66K SF at LIC’s Falchi Building

November 9, 2021

BY REBECCA BAIRD-REMBA An undisclosed federal agency and SoHo-based French bakery Maman have signed 66,000 square feet of leases at Long Island City, Queens’ Falchi Building, Commercial Observer has learned. The General Services Administration (GSA), which handles real estate deals for the federal government, inked a 60,000-square-foot, long-term lease in the building at 31-00 47th

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Savanna Announces New Office Leases at The Six

November 8, 2021

New York, NY – November 8, 2021: Savanna, a New York City-based, vertically-integrated real estate investment manager, owner/operator and developer, has signed three new full-floor leases at The Six, the boutique office tower at 106 West 56th Street. Savanna completed the 90,000 square foot, 26-story property catering to New York’s high-end office users, and opened

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CommonWealth Partners, Two Others Snag Deals
at 106 West 56th Street

November 4, 2021

BY CELIA YOUNG NOVEMBER 4, 2021 They say good things come in threes and for the slim office tower on Billionaire’s Row at 106 West 56th Street that seems to be proving true for leasing. Real estate investment and development firm CommonWealth Partners, petroleum distribution company Buckeye Partners and health care investment firm TCG Crossover

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Savanna Boosts Sustainability Performance Again, Achieving Gresb 5-star Ratings Across Multiple Investment Vehicles

October 27, 2021

New York, NY – October 27, 2021 – Savanna continues to achieve high marks for sustainability performance across its 7 million square foot New York City property portfolio. The company earned 5-Star ratings for multiple investment vehicles on the 2021 GRESB survey, making Savanna a top-tier performer amongst its peers. Savanna vehicles also earned Green

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Savanna Secures Trio of Leases at 521 Fifth Ave.

September 29, 2021

By: Paul Bubny Savanna has secured three new leases totaling 20,175 square feet at 521 Fifth Ave., a 498,711- square-foot, 39-story office building located in close proximity to Grand Central Terminal. Ownership recently completed a capital improvement program at 521 Fifth, which it acquired in 2019. A CBRE team of Peter Turchin, David Hollander, Tim

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Savanna Announces Three New Leases Totaling Over 20,000 Square Feet at Newly Renovated 521 Fifth Avenue

September 27, 2021

September 27, 2021 – NEW YORK – Savanna, a New York City-based real estate investment manager, owner/operator and developer, announced three new leases totaling 20,175 square feet of space at 521 Fifth Avenue, a 498,711-square-foot, 39-story office building located in close proximity to Grand Central Station on the corner of 43rd Street and Fifth Avenue.

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How a developer and a law firm used a Brooklyn development to mentor students interested in commercial real estate

August 24, 2021

By Leonard A. Robinson – Staff Reporter, New York Business Journal Aug 24, 2021 Savanna, a real estate company, and Hunton Andrews Kurth, a law firm with an extensive real estate practice, have used a downtown Brooklyn development project as an opportunity to mentor students interested in commercial real estate. 141 Willoughby Street in downtown

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Hunton Andrews Kurth and Savanna Serve as Mentors to Students in Project Destined Virtual Internship Program

August 13, 2021

NEW YORK – August 13, 2021 – Hunton Andrews Kurth LLP and Savanna have completed their mentorship in Project Destined’s recent internship program, during which City University of New York students learned the fundamentals of commercial real estate. Partnering with leading real estate executives and professionals to deliver the program through CUNY and other local

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Savanna Sustainability Project at One Court Square Nets 4.4 Million Kwh (20%) Annual Energy Savings

July 23, 2021

New York, NY – July 23, 2021: Savanna, a New York City-based, vertically-integrated real estate investment manager, owner/operator and developer, announces today the completion of a major energy efficiency initiative at One Court Square in Long Island City, which results in an annual energy savings of approximately 20%, or 4.4 million kilowatt-hours (kWh), at the

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New York City Skyscrapers Going To High-Tech Lengths To Reduce Carbon Emissions

July 22, 2021

NEW YORK (CBS New York) – Some New York City skyscrapers are working to become more energy efficient. They’re lowering carbon emissions, while saving money in the process. As CBS2’s Dave Carlin reports, One Court Square is among the city’s first to get its cooling and energy systems retooled to be more energy efficient, environment

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Target will open first Long Island City location at One Court Square

June 24, 2021

BY DANA SCHULZ One Court Square, the former Citigroup Building, was long the tallest tower in Queens until it was overtaken by the residential Skyline Tower. In addition to its prominence in the skyline, the building is also known for its failed deal with Amazon. The retailer had planned to lease one million square feet

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One Court Square to Welcome Target Store

June 23, 2021

New York, NY – June 23, 2021: Savanna, a New York City-based, vertically-integrated real estate investment manager, owner/operator and developer, announces today it has entered into a lease agreement with Target Corporation (NYSE: TGT) for 31,000 square feet of retail space at One Court Square, the iconic office tower in Long Island City. Terms of

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One Court Square gets green makeover

June 23, 2021

By Jacob Kaye Con Edison has retrofitted one of Queens’ most notable skyscrapers with several updates to make the building more green. One Court Square, the Long Island City skyscraper that used to be home to CitiGroup, is a 53-story building and is now home to the largest electric-efficiency retrofit at an office building in

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After the great Amazon flake, Target inks huge deal in Queens

June 23, 2021

By Lois Weiss Target hopes to hit another bullseye in Long Island City — where it has just leased 31,000 square feet at One Court Square. When it opens (a spokesperson for Target declined to reveal an opening date), the store will have a dedicated ground-floor entrance, the entire 23,400-square-foot second floor and a portion

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Savanna Secures $264M in Financing for Brooklyn Project

May 12, 2021

By Greg Isaacson May 12, 2021 Real estate investment manager Savanna has closed on $264 million of debt financing for its office and retail development project in downtown Brooklyn, 141 Willoughby. A group of lenders including funds managed by CarVal Investors provided the financing for the 400,000-square-foot building, which broke ground in late 2020. JLL’s

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Savanna Seals $264M Construction Financing for 141 Willoughby Street

May 10, 2021

BY CATHY CUNNINGHAM MAY 10, 2021 A distinct sense of optimism is finally in the air as the world reopens and New York City’s most-buzzed-about developments begin to rise. On Friday, Savanna wrapped $264 million in construction financing for its signature office-and-retail project at 141 Willoughby Street in Downtown Brooklyn, Commercial Observer has learned. “Assembling

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Savanna Announces 141 Willoughby Development Financing

May 10, 2021

New York – May 10, 2021 – Savanna, a New York City-based real estate investment manager and developer, has completed the construction financing of the 141 Willoughby Street development project in downtown Brooklyn, the firm announced. Savanna secured $264 million of debt financing from lenders including funds managed by CarVal Investors. With official groundbreaking completed

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Commercial Observer Power 100

April 1, 2021

Savanna notched more than 500,000 square feet in leases in its roughly 7 million-square-foot portfolio over the last year. And it was the completion of ongoing work on several of the buildings that positioned the firm to capitalize on the office leasing recovery in the second half of 2021. Last year “saw a surge of

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