195 Broadway. Photo by Matthew Bisanz
NEW YORK—Safehold Inc. has entered into a definitive agreement to create a $275 million Safehold ground lease at 195 Broadway in New York City. The transaction is subject to customary closing conditions and is expected to close by year-end.
In addition to 195 Broadway, Safehold has announced four deals in the New York tri-state area this year, totaling approximately $750 million, according to Marcos Alvarado, president and chief investment officer. "This transaction exemplifies our platform's expansion strategy; enter new markets, demonstrate how our Safeholds work with high-quality sponsors," he said.
A block from the World Trade Center Campus, 195 Broadway is comprised of 1 million-square-feet of office space and 22,000-square-feet of retail. Adjacent to the property is St. Paul's Chapel of Trinity Church.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
