NEW YORK CITY — Savanna, a New York-based real estate private equity and asset management firm, has completed the disposition of 100 Wall Street to Cornerstone Real Estate Advisers, acting on behalf of a Cornerstone-managed fund. The 29-story, 520,000-square-foot office building is 97 percent occupied by tenants, including Lester Schwab Katz and Dwyer, Loeb Holding Corp., Crenshaw Associates and Pcubed. Savanna acquired the property in 2011 and completed $25 million in capital improvements during its ownership period, including a successful prebuild program and future resiliency improvements following Hurricane Sandy in 2012. Douglas Harmon, Adam Spies, Joshua King and Adam Doneger of Eastdil Secured represented Savanna, while Carl Schwartz, Laurie Grasso, Susan Saslow, Larissa Kravanja, Ian Group and Barbara Lau of Hunton & Williams served as legal counsel in the transaction. The sales price was not released.
Located at 100 Wall St., the 29-story building offers 520,000 square feet of office space.
263