HFF Announces $640M Sale of 5 Bryant Park in Manhattan
26 May 2018 - 6:17AM
Business Wire
Holliday Fenoglio Fowler, L.P. (HFF) announces the $640 million
sale of 5 Bryant Park, a 35-story, 681,575-square-foot Class A
office tower with frontage on Bryant Park, one of New York City’s
premier greenspaces.
The HFF and JLL teams marketed the property on behalf of the
seller, and procured the buyer, Savanna.
5 Bryant Park is located at 1065 Avenue of the Americas on the
corner of West 40th and 6th Avenue in the heart of the Bryant Park
submarket. Bryant Park is the most densely populated urban park in
the world with more than 800 daily visitors per acre and more than
six million visitors per year. The property is accessible via
numerous subway lines, regional commuter rail services and bus
services, and is adjacent to the newly opened Whole Foods in Bryant
Park’s retail market. Originally built in 1958 and renovated most
recently in 2015, 5 Bryant Park features flexible floorplates
ranging from 7,500 to 34,000 square feet, open floorplans, a
recently renovated lobby and superior views of Bryant Park from
every floor. The property is 95 percent leased to a diverse mix of
tech, financial, professional services and retail tenants.
The HFF investment advisory team representing the seller
included senior managing director Andrew Scandalios and managing
director Graham Stephens. JLL’s investment advisory team consisted
of international director Peter Nicoletti and managing director
Anthony Ledesma.
About Savanna
Savanna, formed in 1992, is a vertically-integrated real estate
investment manager and institutional fiduciary based in New York
City and focused on strategic property investments throughout the
City’s five boroughs. The firm, led by Managing Partners
Christopher Schlank and Nicholas Bienstock, pursues real estate
equity and debt asset investments, including ground-up development
and major repositioning projects. Savanna’s equity investments
target superior risk-adjusted returns by adding value through asset
management and/or property development, redevelopment and
repositioning, deploying a team of more than 30 experienced
investment, asset management, construction and leasing
professionals. Savanna 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
over $3 billion in total capital across nearly 14 million square
feet of real property.
About HFF
HFF and its affiliates operate out of 26 offices and are a
leading provider of commercial real estate and capital markets
services to the global commercial real estate industry. HFF,
together with its affiliates, offers clients a fully integrated
capital markets platform, including debt placement, investment
advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing. HFF, HFF Real Estate
Limited, HFF Securities L.P. and HFF Securities Limited are owned
by HFF, Inc. (NYSE: HF). For more information, please visit
hfflp.com or follow HFF on Twitter @HFF.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180525005539/en/
HFFANDREW SCANDALIOS, (212) 245-2425NY Lic.
#10331200140HFF Senior Managing
Directorascandalios@hfflp.comorPETER S. NICOLETTI, (212)
812-5754JLL International Directorpnicoletti@hfflp.comorKRISTEN
MURPHY, (617) 338-0990HFF Director, Public
Relationskrmurphy@hfflp.com
Tidal Trust II (NYSE:HF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Tidal Trust II (NYSE:HF)
Historical Stock Chart
From Jul 2023 to Jul 2024