Tarter Krinsky & Drogin represented Savanna, a private equity and asset management firm based in New York City, in the leasing of 60,000 square feet of class A office space in their investment property located at 104 West 40th Street in Manhattan. Partners Arthur Zagorsky and William Weisner handled lease negotiations with and drafted the leases for the two new tenants, TKP New York Inc., a Japan-based professional services firm, and Daytop Village Foundation, a not-for-profit organization. Together the leases represent approximately 30% of the property’s leasable square footage.
Execution of these leases is confirmation that the improvements Savanna implemented following their recent acquisition of 104 West 40th Street have enhanced the property’s value. Savanna invested in upgrades to the HVAC system and the building envelope and installed a building-wide sprinkler system. With these improvements, the property is well positioned to fully benefit from its prime location next to Bryant Park and within easy walking distance of Grand Central Station in Midtown Manhattan.
Arthur Zagorsky and William Weisner are partners in the Real Estate Practice Group.
|Zagorsky, Arthur Partner||Partner||212.216.8030|