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Savanna Buys 31 Penn Plaza

NEW YORK CITY-In its second acquisition in as many weeks, the firm has snapped up the office building, which will undergo a $26 million capital campaign.

By Carl Gaines | Updated on September 27, 2011

NEW YORK CITY-Real estate private equity firm Savanna has made its second acquisition in Manhattan in as many weeks, acquiring 31 Penn Plaza from a joint venture of Zamir Equities and C&K Properties. According to data from Real Capital Analytics, the approximate sale price was $130.7 million, or $309 per square foot.

Earlier this month, Savanna bought 80 Broad St. and secured a $65.3 million loan for that building. The firm was unable to comment to GlobeSt.com in time for publication.

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