Savanna Plans Boutique Luxury Office Building Near Central Park
It’s not quite the supertall that had been speculated, but a new project from Savanna on Billionaire’s Row will still be geared towards wealthy tenants.
The developer plans to construct a 26-story, 90k SF boutique office tower at 106 West 56th St. The building will be developed in tandem with Hong Kong-based Atom Assets, The Real Deal reports. No word on asking rents as of yet, but space will likely wind up in the premium range of well over $100 per SF.
The building will feature views of Central Park for all floors above the 15th floor. Perkins Eastman has been tasked with design, while CBRE will handle leasing for the building, which is scheduled to deliver in 2019.
Boutique office buildings have been quite the rage of late with several projects on tap in the city, including a mixed-use tower from Spitzer Enterprises at Hudson Yards. Developers have been drawn to building costs that typically come in at less than $100M, as well as the allure of premium asking rents. [TRD]
