Savanna Takes Loss on Madison Square Deal

Savanna just took a major financial hit, selling two West 25th Street office buildings near Madison Square Park for $125 million — a steep $72 million loss since they bought them for $197 million between 2018 and 2019. This follows their recent $108 million sale of a Midtown property, also at a loss. Meanwhile, Kaufman Investments is expanding its footprint in the area, snapping up another West 25th Street building for $52 million. Despite the setbacks, Savanna continues buying — most recently a Madison Avenue office in September — showing a complex, high-stakes game in the shifting office market. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/95de029b29a00a1b