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Savanna Acquires Office Building In Garment District For $435M

1375 Broadway
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This Office property located in NY was sold for $435,000,000 about 4 years ago. The brokers of the deal were Steve Kohn, Adam Spies, Alex Lapidus Okin, Alexander (Alex) Hernandez, Adam Doneger, Zachary (Zach) Kraft, Joshua (Josh) King, and Douglas (Doug) Harmon

The office building located at 1375 Broadway in the Garment District has been sold for a total price of $435,000,000. Spanning across 513,000 square feet, the property was purchased by Savanna.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $435,000,000
  • Address: 1375 Broadway
  • Market: Garment District
  • Square Footage: 513,000

The deal was facilitated by Adam Spies, Doug Harmon, Adam Doneger, and Josh King from @CushWake, who represented the buyer. The seller of the property was Westbrook Partners.

It is worth noting that Savanna was also the original seller of the building to Westbrook Partners, highlighting their involvement in both sides of the transaction.

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Deals
  • Location
    1375 Broadway, New York, NY 10018, USA1375 Broadway, New York, NY 10018, USA
  • Sale Price
    $435,000,000$435,000,000
    $77 PPSF$77 PPSF
  • Area
    5,643,401 SF5,643,401 SF
  • Asset Type
    OfficeOffice
  • Parties
    8 Brokers, 2 Agencies, 2 Lenders8 Brokers, 2 Agencies, 2 Lenders

Agents

Zachary (Zach) Kraft

Zachary (Zach) Kraft

Deals15
Financed$2B

Steve Kohn

Steve Kohn

Deals16
Financed$4.5B

Joshua (Josh) King

Joshua (Josh) King

Deals56
Financed$10.2B

Douglas (Doug) Harmon

Douglas (Doug) Harmon

Deals80
Financed$22.4B

Adam Spies

Adam Spies

Deals146
Financed$30.2B

Adam Doneger

Adam Doneger

Deals93
Financed$20.9B

Agencies

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4188
Volume$167B

Newmark

Newmark

Agency
Deals3893
Volume$397.4B

Aareal Capital Corporation

Aareal Capital Corporation

Lender
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Volume$ 267.5B

Deutsche Bank

Deutsche Bank

Lender
Deals117
Volume$ 2.7T

Deal Summary

IMAGE: Adam Spies, Nicholas Bienstock, Adam Doneger, Christopher Schlank, Doug Harmon & Josh King DATE: 02/12/2020 ADDRESS: 1375 Broadway MARKET: Garment District ASSET TYPE: Office PRICE: $435,000,000 SF: 513,000 PPSF: $850 BUYER: Savanna SELLER: Westbrook Partners BROKERS: @CushWake Adam Spies, Doug Harmon, Adam Doneger & Josh King NOTE: Savanna originally sold the building to Westbrook […]

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1375 Broadway

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