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Savanna celebrates $26 million re-launch of 31 Penn Plaza; Project architect for the renovations was Fogarty Finger

April 08, 2013 - Design / Build

Shown (from left) are Savanna's managing partners, Christopher Schlank and Nicholas Beinstock.

Shown (from left) are: Eric Meyer (Colliers), Marty Meyer (Colliers), Michael Thomas (Colliers), Cooper Kramer, vice president (Savanna), Kevin Chisholm, managing director (Savanna), and Bastien Broda, analyst (Savanna).

Shown (from left) are: Bill Harvey, Mike Morris, and Dan Gronich (all Newmark Grubb Knight Frank).

Shown (from left) are: Nick Bienstock, managing partner (Savanna), Brian Feil (The Feil Organization), Jon Estreich (Estreich & Company), and Kevin Chisholm, managing director (Savanna).

Shown (from left) are: Mitchell Konsker (Jones Lang LaSalle), Christopher Schlank, managing partner (Savanna), David Falk (Newmark Grubb Knight Frank), Jeff Roseman (Newmark Grubb Knight Frank), and Kevin Hoo, vice president (Savanna).

Shown (from left) are: Jonathan Fanuzzi (Jones Lang LaSalle), Bill Harvey (Newmark Grubb Knight Frank), and Peter Shimkin (Newmark Grubb Knight Frank).

Shown (from left) are: Bob Shapiro (Newmark Grubb Knight Frank), Joe Mangiacotti (CBRE), and Ivan Hillman (CBRE).

Savanna, a New York-based real estate private equity and asset management firm, celebrated the re-launch of 31 Penn Plaza (a 444,000 s/f building located between Sixth and Seventh Aves. on West 31st St.) The celebration was held at Pennsylvania 6, a raw bar and restaurant. Over 300 guests from New York's commercial real estate community were introduced to the newly renovated property and attended the launch event. Acquired through an off-market sale in late 2011, Savanna's $26 million capital plan for 31 Penn Plaza includes a new building entrance and uplighting, fully renovated lobby, modernized destination system elevators and ongoing building common area upgrades. The firm's equity investments target superior risk-adjusted returns by adding value through asset redevelopment, repositioning and asset management. The project architect was Fogarty Finger.
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