New York, NY According to The Realty Foundation of New York (RFNY) Christopher Schlank and Nicholas Bienstock, co-managing partners of Savanna, will be honored at the organization’s second annual cocktail party on April 28th. The gala event will take place at the Rainbow Room on the 65th floor, 30 Rockefeller Center beginning at 5:30 p.m.
“We are so very excited that Chris and Nick will be our co-honorees this year,” said Dale Hemmerdinger, chairman of the foundation, who added that the event is the RFNY’s 62nd annual fundraiser since its inception in 1954. “A dynamic, young, highly successful company, Savanna’s principals have enthusiastically embraced our mandate, which is dedicated to aiding real estate professionals who are financially at risk, a cause that is relevant to any generation as real estate markets cycle and fluctuate.”
Established in 1992, Savanna is a real estate private equity firm and asset management company that pursues real estate equity and debt investments located primarily in New York City. Savanna’s current portfolio of more than 8 million square feet includes 95 Evergreen Avenue, a 160,000 square-foot warehouse to office and retail conversion in Bushwick, Brooklyn; 60 Tenth Avenue, a 24,000 square-foot retail building under the High Line in the Meatpacking District; 110 William Street, a 928,000 square-foot office tower in the Financial District; 540 West 26th Street, a 166,000 square-foot office and gallery development in West Chelsea; and One Court Square, a 1.5 million square-foot office tower in Long Island City.
Recent acquisitions include 1825 Park Avenue, a 135,000 square-foot office repositioning in the 125th Street corridor of Harlem, and 106 West 56th Street, a 90,000square-foot boutique office development in the Plaza District.
“We remain steadfast in our resolve to oversee the welfare and well-being of our member firms and their families, and are thrilled that Chris and Nick will carry the torch to their contemporaries by supporting us this year,” said Lawrence B. Benenson, the Foundation’s executive vice president.
In addition to overseeing members’ financial welfare, the Foundation runs a scholarship program for college bound students. For further information about the Foundation, please contact Executive Director Patricia Frank at [email protected].
Formed in 1992, Savanna is an institutional real estate private equity firm and asset management company based in New York City and run by Managing Partners Christopher Schlank and Nicholas Bienstock. The firm pursues opportunistic real estate equity and debt asset investments throughout the northeastern United States, with a particular focus on owning and operating properties in New York City. The firm’s equity investments target superior risk-adjusted returns by adding value through asset management and/or property development, redevelopment, and repositioning. Savanna also selectively invests in real estate debt instruments that have the potential to generate equity-like returns, including preferred equity instruments, high yield bridge and mezzanine loans, and B-notes. Since 2006, Savanna has invested more than $2.8 billion in total capital across 13 million square feet of real property.
The Foundation was founded in 1954 by a group of passionate real estate professionals that were concerned about the financial risks facing the brokerage community. The Foundation’s membership includes 65 of the real estate community’s most prominent members. Chairman H. Dale Hemmerdinger and President Jeffrey R. Gural lead the Foundation’s Board of Directors.
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