“We are very proud of our redevelopment and leasing efforts at 245 & 249 West 17^th Street,” says Christopher Schlank, managing partner of Savanna. “After acquiring two aging, vacant buildings, Savanna worked hard to deliver a Class A, fully occupied product to the market. We believe that NYRT is acquiring two outstanding properties in an area where rents continue to grow substantially.”

Adds Michael Happel, president of NYRT, “We are thrilled to have reached agreement to acquire the headquarters of Twitter. This flagship property, located in one of Manhattan's most desirable sub-markets, has been fully renovated and is distinguished by two new lobbies, brand new state-of-the-art building systems, windows, elevators and a stunning rooftop terrace that overlooks the Hudson River.”

“In addition,” he continues, “the fact that Twitter, one of the world's most prestigious technology firms, chose this property as its New York headquarters demonstrates the importance of this location and further testifies to the institutional quality of the property itself. We are confident that these buildings, located in New York City's epicenter of creativity, technology and style, will add significant value to our growing, first-class Manhattan property portfolio.