Savanna has signed a new full-floor office lease at 104 West 40th St., a landmark class A office building located next to Bryant Park in Midtown Manhattan. The 210,000 s/f, 20-story office building was acquired by Savanna in August 2010.
RDA Ventures has signed a lease for the entire 6,610 s/f 19th floor, a prebuilt suite designed by Robert Finger of Fogarty Finger Architects. The unit offers RDA Ventures a boutique full-floor presence with first-class finishes and an efficient layout. The company was represented by Marc Miller of Winoker Realty Co., who previously leased the 15th and 16th floors of 104 West 40th St. to financial services firm Capstone Advisory Group.
"We are thrilled to welcome RDA Ventures to 104 West 40th St. and to continue our leasing success at the property. We recently signed over 60,000 s/f of new office leases with TKP New York, a conference facility provider, and Daytop Village Foundation, a major non-profit, in the concourse, 2nd, 3rd, and 4th floors," said Shep Wainwright, managing director of Savanna. "The building's prime Midtown location, premier office space, and exquisite lobby continue to drive steady demand."
At 104 West 40th St., Savanna has launched a major marketing and leasing program for the remaining 87,000 s/f of available space, which includes an 80,000 s/f contiguous block on the 5th through 10th floors and an additional 6,610 s/f full tower floor.
"104 West 40th St. is a terrific location for RDA Ventures' New York headquarters, offering a beautiful 6,610 s/f prebuilt office suite with views of Bryant Park, excellent building amenities and convenient access to major transportation," said Miller, executive vice president at Manhattan-based commercial real estate brokerage firm Winoker Realty Co., who represented RDA Ventures in the transaction.
Savanna was represented by Paul Amrich, Michael Movshovich, and Neil King of CB Richard Ellis (CBRE).
"With RDA Ventures' new lease we have successfully signed a total of approximately 66,610 s/f at 104 West 40th St. during 2011," said Paul Amrich, executive vice president, CBRE. "This significant leasing activity is a testament to ownership's capital plan to reposition the property and the strength of the Midtown market, and we feel very confident in our continued success in early 2012 given the current level of activity on the remaining availability."
Since 2007, building ownership has invested over $10 million in major base building upgrades, including a newly refurbished plaza entrance on 40th St., a renovated lobby, including a commissioned modernist mural by Sarah Morris, and new elevator cabs. Since acquiring the building in 2010, Savanna has built a marketing floor on the 4th floor, now leased to Daytop Village Foundation, completed a full terrace on the 12,500 s/f 7th floor, and designed and completed the 19th floor prebuilt suite. In addition, Savanna has launched a significant capital program that includes upgrades to the building HVAC system and the building envelope, along with the installation of full building sprinkler infrastructure. Tags: