News: Brokerage

Savanna signs three leases totaling 8,415 s/f

Manhattan, NY Savanna has signed new full-floor leases at The Six, the boutique office tower at 106 West 56th St.

CommonWealth Partners, a real estate investment and development firm, leased 3,051 s/f, taking the entire 16th floor.

Buckeye Partners, L.P., a major petroleum distribution company, took the entire 18th floor of 2,682 s/f.

TCG Crossover, a healthcare investment firm, leased the entire 19th floor of 2,682 s/f.

All three tenants leased high-end build-to-suit offices designed and constructed by Savanna.

CommonWealth Partners was represented in lease negotiations by CBRE’s Evan Haskell, Brett Shannon, and Howard Fiddle. Mark Mandell and Carri Lyons of Cushman & Wakefield represented Buckeye. Jon Franzel and Leo Kone of Newmark represented TCG. The Six was represented by exclusive leasing agent CBRE, with the team of Peter Turchin, Caroline Merck, Christie Harle and Brad Auerbach.

Previously, CA Ventures, a real estate investor and asset manager headquartered in Chicago, leased the entire 22nd floor (2,483 s/f) for its New York executive offices, and has now taken occupancy.

The Six offers an efficient and modern design, customizable boutique floorplates, contemporary prebuilt spaces, and stunning views of Central Park and other New York landmarks.

The Six caters to smaller users such as investment funds, wealth managers, and family offices. Savanna’s design incorporates column-free floor plates ranging from 4,524 s/f at the base to 2,492 s/f at the top in order to give every occupier a full-floor presence.

Savanna completed the 90,000 s/f, 26-story property catering to high-end office users, and opened for occupancy this spring.

“Our approach with The Six was to create a very special office product for a specific kind of tenant, and we believe the result is spectacular.  We’re gratified that our target market agrees, as tenants are embracing our offering including the high-end prebuilt program, and we look forward to continuing this momentum in our lease-up,” said Kerry Powers, director at Savanna.

“Right now, the office market is experiencing a flight to quality with new construction outperforming the rest of the market. The Six is the only Midtown new construction office building built and designed for smaller tenants, allowing users of this size to capitalize on the flight to quality trend. We will continue to build to the highest level of finishes at The Six in order to meet the demand,” said Christie Harle of CBRE’s agency leasing team for the property.

In designing and programming The Six, Savanna focused on providing boutique office space with a hospitality-like feel in this tremendous location just west of Sixth Avenue, two blocks south of Central Park.  The Six features a private club-like atmosphere and superior amenities including a private tenant lounge and conference center.  The column-free floorplates provide the maximum flexibility in tenant layouts, floor-to-ceiling fenestration to maximize natural light and views, and generous ceiling heights of 13’6”.

Designed by Perkins Eastman, as architect of record, and Gensler, as design architect, the building is constructed as a steel structure enveloped by a sleek glass curtain wall system. Tenants have wrap-around eastern viewing windows starting on the 14th floor, with Central Park views to the northeast starting on the 18th floor.  The base floors also feature west-facing windows to allow even more light into the space. In addition, the building’s five setbacks offer usable terraces exclusively for the tenants leasing those floors.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
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
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,