Savanna nabs another discounted office building with $50M short-sale deal
Savanna is pouncing on yet another discounted office deal, even as the company works through its own distress issues. Nicholas Bienstock and Christopher Schlank’s company is in contract to buy the leasehold on Westbrook Partners’ 444 Madison Avenue for $50 million, The Real Deal has learned. Westbrook, which bought the lease on the 1930s-era office building for $314 million in 2007, defaulted on its Wells Fargo $120 million loan. The bank put the loan up for sale late last year in an offering that would have given a buyer a direct path to taking over the property through a deed-in-lieu […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts

Exclusive Inventory Update And Zillow’s Catch-22

Weekend Recap: Deep Dive Podcast and Portal Wars
Australia

50 New Listings in Raleigh, September 3, 2025

50 New Listings in Oklahoma City, September 3, 2025

50 New Listings in West Palm Beach, September 3,
2025

Trump dangles HUD post to Adams in bid to reshape mayoral
race

What Is a Multi-Family Generational Home?

We Buy Houses Plainfield: Top 5 Companies

Savanna nabs another discounted office building with $50M
short-sale deal

Fanatics exec rents 160 Leroy unit for peak ppsf