Savanna Acquires 48 W. 25th St. for $100M

48 W. 25th St.

NEW YORK CITY—The Flapper family sold its 12-story office and retail building located at 48 25th St. to Savanna for $100 million, according to Real Capital Analytics. The New York-based real estate investment manager, owner, operator and developer is planning a $21 million repositioning of the asset which was originally constructed in 1920.

The 12-story, 126,256 square-foot building on 25th Street stands between Broadway and Sixth Avenue. The historic property has 16-foot ceiling heights on the ground floor, with 11-foot to 13-foot walls on the office floors, and loft-style features including operable windows and an ornamental terra cotta façade. The structure also contains 10,000 square-foot floorplates.