“31 West 27th Street offers a rare combination of attributes – an incredibly strong location in one of Manhattan's greatest neighborhoods, and a historic look and feel that tenants desire,” says Cooper Kramer, managing director of Savanna. “Our aim is to implement strategic renovations that will make this property an even more compelling proposition for office tenants seeking the best of New York, as well as a prime retail destination within a dynamic area that continues to transform.”

Savanna plans to implement what it terms as a “comprehensive capital improvement plan” at the building that will include renovations of the lobby, building systems, façade, roofs and sidewalk vault. The New York City-based real estate investment management firm also intends to renovate and reposition the retail storefront to improve the building's street presence, as well as the overall tenant and visitor experience. Savanna has engaged Paul Amrich, Neil King, and Patrice Meagher of CBRE to lead office leasing efforts at the property.