Savanna leases 66,000 s/f at Falchi Building

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Savanna announced 66,000 s/f of leasing activity at the Falchi Building, a five-story, 736,407 square foot office and retail building centrally located in the Factory District of Long Island City, Queens. 

The United States Government leased approximately 60,000 s/f of office space at the property, and Maman, the gourmet café and bakery originating in Soho, leased 5,600 square feet for a ground floor shop.

“Falchi continues to attract office and retail tenants to the Factory
District, which has gathered momentum as an activated mixed-use area with a
unique feel and exciting food options,” said Linhadley Eljach, Vice President
at Savanna.  “We’re pleased to welcome this significant long-term office
space commitment by the federal government, and Maman adds yet another
appealing eatery to the Falchi offering.”

Falchi occupies a full city block in Long Island City bounded by 47th
and 48th Avenues, between 31st Street and 31st Place, and is less than ten
minutes from Midtown Manhattan via the 7, E, F, G, M, N, Q, R trains, the
Queens Midtown Tunnel, and the Queensboro Bridge.  Long Island City has seen more than $20
billion of institutional investment into commercial and residential property in
recent years.  

Savanna made a significant investment in capital improvements for
Falchi, reimagining the lobby, entrance, and ground floor retail corridor to
create a more modern, inviting feel for existing and prospective tenants.  Savanna’s lobby renovation revitalizes the
building entrance and improves the existing ground floor retail space, a
food-focused corridor similar to Chelsea Market that provides an attractive
shared amenity for the building and the surrounding neighborhood.  The updated lobby features Stonhard flooring,
an accent wall with LED backlighting at the entrance, rectangular linear light
fixtures, built-in retail millwork kiosks with stone countertops, and black
porcelain accent subway tile.  The focus
on common areas extends to the amenity lounge space, as well as renovation of
common corridors and restrooms.

Cushman & Wakefield, exclusive leasing agent for both office and
retail space at Falchi, represented Savanna in the lease transactions.  The C&W office team is led by Mitch
Arkin, Kelli Berke, Omar Sozkesen, Ethan Silverstein, and Austin Sanders, while
retail leasing is led by Michael Azarian along with Mr. Arkin.  CBRE’s Matthew Bartlett represented the U.S.
Government in its office lease.  Taryn
Brandes and Emily Green of Brand Urban represented Maman in the retail
deal. 

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