NEW YORK CITY—Savanna has sold 80 Broad St., a 423,000-square-foot office building in Lower Manhattan, to Broad Street Development for $173 million. Adam Spies, Douglas Harmon, Joshua King and Adam Doneger of Eastdil Secured represented Savanna in the sale. Attorneys Leo Leyva, Jordan Metzger and Tara Ryan of Cole, Schotz, Meisel, Forman & Leonard P.A. served as the seller’s counsel.

After acquiring the property in 2011, Savanna completed a comprehensive capital improvement program including a lobby renovation, façade upgrade, modernized elevators, and upgrades to the common area bathrooms and corridors. Savanna also invested significant capital to complete valuable work following Hurricane Sandy, protecting the building against future weather related risks. This effort included the relocation of critical systems such as electrical switchgear, fire alarm systems and security systems, from the basement to higher floors. 

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