Safehold to Create $275M Ground Lease for 195 Broadway

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.