NEW YORK CITY—Savanna, in a joint venture with the Silvermintz Family and Jamison Weiner, will develop 540 W. 26th St., a 160,000-square-foot office and art gallery building. Weiner, of the Manhattes Group, will be the exclusive leasing agent for the property.
The building is located in the vibrant neighborhood of West Chelsea, home to world-renowned art galleries, fashion designers, media and technology companies and hotels. Near the High Line and immediately south of Hudson Yards, the new development will be part of a rapidly evolving neighborhood. West Chelsea is flourishing as new high-rise condominiums and commercial developments are built and international corporations and retailers expand their operations in the neighborhood.
“We are excited to introduce a state-of-the art office and gallery building to West Chelsea, which has become an epicenter of art, new media, technology and residential development in Manhattan,” says Christopher Schlank, managing partner at Savanna. “West Chelsea has grown exponentially in recent years and we look forward to being part of the continued transformation of the neighborhood.”
Considered the tightest submarket in the nation, Midtown South has been the darling of the technology and media firms over the last year. GlobeSt.com was awaiting further comment from Savanna at press time.
The proposed nine-story building will cater to office, art gallery and community facility tenants. Designed by Morris Adjmi Architects and set to feature collaborative workspaces, the building will offer generous ceiling heights, predominantly column free space, a large rooftop as well as terraced setbacks for tenant's use, and highly attractive floor to ceiling fenestration to take full advantage of the views of the neighborhood's ever-changing landscape. Construction is expected to start this summer.
“This site has been owned by my family for quite some time and Jamie Weiner and I have spent the last 15 years preparing it for a large scale development that we knew was going to be in the future of this neighborhood,” says Michael Silvermintz. “We are very fortunate to have joined forces with the team at Savanna who share the vision we have to bring a first-class property to the area and to contribute to the spectacular neighborhood of West Chelsea.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
