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Mission Capital Secures $45M Loan for Savanna’s Acquisition of Manhattan Commercial Property

1825-Park-Ave-NYC

Savanna has acquired the 135,000-square-foot retail and office property located at 1825 Park Ave. in Manhattan for $48 million.

NEW YORK CITY — Mission Capital has secured $45 million in financing for the acquisition of a commercial property located at 1825 Park Ave. in Manhattan’s Harlem. Savanna acquired the 135,000-square-foot property for $48 million. At the time of sale, the 12-story building was 55 percent occupied by a mix of retail and office tenants, including JP Morgan Chase and Popeye’s. Jonathan More, Ari Hirt and Jamie Matheny of Mission Capital arranged the financing for the acquisition. The name of the seller was not released.

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