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Savanna, Feil JV Acquires 21 Penn Plaza for $137M

GHG Realty Trades 375,000-SF Manhattan Office Tower
By Justin Sumner
CoStar News
October 11, 2011 | 7:29 P.M.

Savanna, a real estate equity and asset management firm, and the Feil Organization, a real estate development and management firm, have acquired 21 Penn Plaza in New York City for a reported $137 million, or about $388 per square foot. The asset was purchased by the joint venture in an off-market transaction from a joint venture led by GHG Realty, which had owned the building since the mid-1980s.

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