195 Broadway.
NEW YORK CITY — Safehold Inc., a real estate investment trust specializing in ground leases, has closed a $275 million ground lease for 195 Broadway in Downtown Manhattan. The new ground lease served the institutional venture including L&L Holding, Seoul-headquartered Korea Investment & Securities and Samsung in capitalizing the property after acquiring it in Septemeber.
"The closing of 195 Broadway highlights the growing momentum of our modern ground lease solution," said Marcos Alvarado, president and CEO of Safehold, in a prepared statement.
In addition to 195 Broadway, Safehold has announced four deals in the New York tri-state area this year, totaling approximately $750 million, GlobeSt.com reported in September. The transactions were a part of the firm's fast-growing expansion strategy to enter new markets.
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.
