New York City skyline
NEW YORK CITY— Safehold Inc., a real estate investment trust specializing in ground leases, has finalized a $285 million agreement to create a ground lease for 135 West 50th St. in New York City.
The transaction including a $25 billion domestic core real estate fund is subject to customary closing conditions, and is expected to lock-down by year-end.The 929,000-square-foot office tower is undergoing renovations for reintroduction back into the market. "Institutional owners of commercial real estate are increasingly turning to Safehold to maximize value during a recapitalization," said Marcos Alvarado, president and chief investment officer.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
