NEW YORK CITY—Savanna is about to be sitting pretty. The firm is under contract to sell 80 Broad St. to Broad Street Development for $175 million—more than three times the previous purchase price, according to the New York Post. For the 430,000-square-foot, 36-story pre-war office tower, that works out to a price in the low $400s per square foot.

Savanna took control of 80 Broad St. in 2011, when it purchased the senior mortgage at a 12% discount on its $75 million face value. Eastdil Secured’s Doug Harmon and Adam Spies brokered the sale to Broad Street for Savanna, after fielding what a Post source called “aggressive” offers by local and foreign investors.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.