Cushman & Wakefield announced that it represented 430 Park Avenue, which is owned by Park 430 Operating Company LLC, in a long-term lease transaction with Savanna.
The Midtown Manhattan building is located between 55th and 56th Streets.
Savanna, a New York City-based real estate private equity firm and asset management company that pursues real estate equity and debt investments, will occupy 11,378 s/f on part of the 12th floor in the 19-story office building.
“We are thrilled to have Savanna join our tenant roster at 430 Park Avenue,” said John Usdan, president of Midwood Management, adding “we look forward to this being the beginning of a long and mutually beneficial relationship between our firms.”
A Cushman & Wakefield team led by Gus Field, vice chairman, Kevin Daly, senior director and Clark Finney, senior director, serve as exclusive leasing agents and represented the landlord in the transaction. Gordon Ogden of Byrnam Wood represented Savanna.
“Savanna is an exceptional addition to 430 Park Avenue,” said Field. “We welcome them to what we believe is the best building on Park Avenue for businesses of their size and profile — highly successful leaders in their industry.”
Built in 1954, and completely renovated in 2002, 430 Park Avenue is a 300,000 s/f, class-A office building, which provides unique identity and the highest quality business environment to small and mid-size firms seeking a Park Avenue address.
Boston Consulting Group is the anchor tenant in the building.
Founded in 1992, Savanna has invested more than $3.2 billion in total capital across 16.7 million square feet of real property in multiple asset classes.