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Savanna acquires 28 West 25th Street

The Japanese firm continues its aggressive disposition strategy

24, 28 & 40 West 25th Street (Credit: Sullivan Engineering LLC)

Savanna has entered into contract to acquire 24-28 West 25th Street from Unizo Holdings for around $110 million, TRD reported. The two adjacent Flatiron District office buildings span a total of 133,561 SF.
Flashback: Unizo paid $103.8 million for the asset in 2015. Let’s evaluate the Japanese firm’s recent deals…  

  • Sold 440 Ninth Avenue (411,000 SF) to Taconic Investment Partners + TH Real Estate for $269 million after paying $211.5 million in 2013.
  • Sold 321 West 44th Street (220,000 SF) to Related for $152.5 million after paying $140.5 million in 2015. 
  • Sold 370 Lexington Avenue (312,000 SF) to Broad Street Development for $190 million after paying $247 million in 2015.

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