Savanna

540 West 26th Street

Nine-Story, 142,500-Square-Foot Commercial Building Rises Above Street Level at 540 West 26th Street, West Chelsea

Construction is up to the third floor on the nine-story, 142,554-square-foot mixed-use commercial building at 540 West 26th Street, in West Chelsea. The latest photos can be seen on the YIMBY Forums. The most recent building permits indicate the project will eventually measure 142,554 square feet and rise 135 feet above street level. The developers have already pre-leased 85,421 square feet across portions of the ground through fifth floors to Avenues: The World School, a private school. The sixth through ninth floors will contain office space and the ground floor will feature an art gallery space. The real estate fund Savanna and the Silvermintz family are developing the building, while Morris Adjmi Architects is designing it. Completion is expected in 2017.




141 Willoughby Street

ULURP Underway for 49-Story, 270-Unit Mixed-Use Tower Proposed at 141 Willoughby Street, Downtown Brooklyn

In 2014, Savanna acquired, for $28 million, the three-story commercial building at 141 Willoughby Street, in Downtown Brooklyn. Then in August of 2015, the developer submitted filings to rezone the property in order to build a 44-story, 270-unit mixed-use tower. The city’s Uniform Land Use Review Procedure (ULURP) is now underway, with the latest step resulting in Community Board 2’s Land Use Committee disapproving the rezoning, the Brooklyn Daily Eagle reports. The project itself has grown slightly since initially being filed. Proposed at the latest hearing was a 49-story, 270-unit mixed-use building. Eighty-one of the units would rent at below-market rates. The base of the building would feature two stories (plus the cellar) of retail, followed by seven stories of office space. Morris Adjmi Architects is designing. The latest step in ULURP is merely a recommendation. The proposal will now go before the entire Community Board 2. If the rezoning is granted, Savanna would also acquire from the city, for $4.8 million, a small, triangular park located to the north of the site. It has 47,718 square feet of development rights and would permanently remain as a park.


3080 Broadway

Savanna Plans Residential Tower At 3080 Broadway as Seminary Plans Expansion, Morningside Heights

Last month, Savanna paid $96 million for air rights and a piece of the Jewish Theological Seminary at 3080 Broadway, in Morningside Heights between West 122nd and 123rd streets. The developer has since secured $34.6 million to finance the acquisition, Commercial Observer reports. The Seminary will use the funds to renovate its campus, to build a performing arts center, and to build a new dormitory with an expansive library. Tod Williams Billie Tsien Architects will be designing the Seminary’s half of the project. As for Savanna’s piece of the project, a low-rise piece of the Seminary on West 122nd Street will be demolished and replaced by a 250,000-square-foot residential tower, to be designed by Beyer Blinder Belle. No targeted completion dates have been disclosed.


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