Savanna, a New York-based real estate private equity and asset management firm, in a joint venture with the Silvermintz Family and Jamison Weiner, will develop 540 West 26th Street, a state-of-the art, 160,000 s/f boutique office and gallery building.
540 West 26th Street is located in West Chelsea, home to art galleries, fashion designers, media and technology companies and hotels.
Close to the High Line and immediately south of Hudson Yards, the new development will be designed by Morris Adjmi Architects. The proposed 9-story building will cater to office, gallery and community facility tenants.
Designed with a contemporary aesthetic and collaborative workspace paradigm in mind, the building will feature generous ceiling heights, predominantly column free space, an expansive rooftop as well as terraced setbacks for tenant’s use, and floor-to-ceiling windows to take full advantage of the views of the neighborhood. Construction is anticipated to commence this summer. Jamison Weiner of The Manhattes Group LLC will be the exclusive leasing agent for the property.
“This site has been owned by my family for quite some time and Jamie Weiner and I have spent the last 15 years preparing it for a large scale development that we knew was going to be in the future of this neighborhood,” said Michael Silvermintz.
“We are very fortunate to have joined forces with the team at Savanna who share the same values, vision and drive that we have to bring a first-class property to the area and to contribute to the spectacular neighborhood of West Chelsea.”
Savanna’s Christopher Schlank said, “West Chelsea has grown exponentially in recent years and we look forward to being part of the continued transformation.”
