The company will use its new space for a large institutional kitchen, bakery, and training facility as well as for its operations. The company will provide space for the Sylvia Center, a non-profit that educates people on nutrition, healthy eating and cooking. The Sylvia Center will also run a coffee shop that's open to the public.

Savanna and Hornig acquired the eight-story, 175,000 square-foot Bruckner Building from Madhatters Realty for $30.6 million in March 2015, according to Real Capital Analytics. The owners recently completed a $12 million renovation. They updated the lobby, entrance, windows and façade, and added new elevator mechanicals and a new hallway for tenants.

“Following our capital investment to significantly upgrade the property, we've been successful in attracting a diverse array of tenants to Mott Haven,” says Tom Farrell, managing director of Savanna. “When we made this investment, we were on the leading edge of a significant wave of growth that is now evidenced by major residential and commercial projects in the neighborhood, as well as the very important small businesses like restaurants, cafes, and bars that make the streets feel alive and exciting.”

Cushman & Wakefield's David Lebenstein and Debra Wollens advised Great Performances. Savanna and Hornig were represented by Cushman & Wakefield's Mitch Arkin and Omar Sozkesen and JRT Realty's Ellen Israel and Lauren Calandriello.

“Great Performances' move to the Bruckner Building is not only a terrific opportunity for their business, but also for the South Bronx,” says Lebenstein, who leads Cushman & Wakefield's not-for-profit advisory group. “The company will add great job opportunities in the neighborhood and offer supportive services through the non-profit, the Sylvia Center, which the company helped establish 12 years ago and continues to actively support.”

The brokerage notes that tremendous development activity in the neighborhood has attracted not only businesses and residents but also institutional capital.