News: Brokerage

Todd Korren 2012

Name: Todd Korren Title: Principal, Director of Leasing Company: Savanna Location: 10 East 53rd St., New York City Birthplace: New York City Family: Married with 2 daughters College: NYU, undergraduate, BS Management; NYU, MBA First job outside of real estate: Cleaning swimming pools to pay for college First job in real estate or allied field: Real estate salesperson while in college. Construction superintendent after college What do you do now and what are you planning for the future? Savanna is a N.Y.C.-based institutional real estate private equity firm. The firm pursues opportunistic real estate equity and debt asset investments focusing on directly owning and operating properties primarily in N.Y.C. The firm's value added strategy includes the implementation of substantial capital improvements, property repositioning and leasing of space. Savanna has invested more than $1.7 billion across 15.2 million s/f across multiple asset classes and locations, representing over $3.75 billion in total capitalization. Hobbies: Reading, gardening, biking Favorite movie: "The Godfather," "Gladiator," "Lawrence of Arabia" Persons you admire most (outside of family): Richard Branson, George Mitchell, George Soros Keys to success: Work smarter and harder than your competitors; think "out of the box;" don't promise what you can't deliver; treat everyone, regardless of position, with respect. If you had to choose another vocation what would it be? Environmental management/recycling
MORE FROM Brokerage

NYSCAR June 2026 president’s message - by Mercedes Brien

As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking