The Distribution by Juniper Square Understanding Today’s Office Market: Distress, Recovery, and Selective Opportunity - Nick Bienstock - CEO & Co-Chairman - Savanna
Nov 25, 2025
Nick Bienstock, CEO and Co-Chairman of Savanna, shares his transformative journey in real estate and the strategic evolution of his firm. He opens up about the current dynamics of the New York office market post-COVID, highlighting the divide between premium and lower-quality properties. Tune in to discover how institutional investors are cautiously re-entering the space and the booming prospects in West Palm Beach, including Savanna's exciting new development. Nick’s insights on market trends and the future of urban real estate are both informative and engaging!
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First Deal As A Student
- Nick bought a rental building in Cambridge while at Harvard and filled it with friends, learning hands-on property management early.
- He didn't make money but treated it as an education that led him to pursue formal real estate training.
Workout Training At Chemical Bank
- Nick worked in Chemical Bank's real estate workout team during the late-1980s crisis and described it as brutal but excellent training.
- That experience taught him hands-on restructuring and created long-term industry relationships.
Scaling Savanna With Institutional Capital
- Nick joined Chris Schlank and Jonathan Leidersdorf at Savanna in 1998 to scale the firm from one-off deals to institutional capital.
- They used Park Hill to raise institutional funds and built a fund management business from that track record.