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Savanna acquires 360 Lexington Avenue

360 Lexington Avenue (Credit: Google Maps)

Savanna has entered into contract to acquire 360 Lexington Avenue from AEW Capital Management for around $180 million. The boutique office building spans 262,605 square feet, and features a retail component on the ground floor. It’s located at the corner of Lexington and East 40th Street.

Dig Deeper: The 26-story building is 82 percent leased and has a series of setbacks above the 11th floor. Savanna can convert six of them into outdoor terraces. Webster Bank is the property’s largest tenant, and expanded to an additional floor in 2017, according to TRD who first reported the news.

Flashback: AEW paid $129.5 million to Himmel + Meringoff for the building in 2008.

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