Manhattan, NYC.
NEW YORK CITY – Safehold Inc., a real estate investment trust specializing in ground leases, has agreed to create a $180 million ground lease for 685 Third Ave., a 31-story office tower one block from Grand Central Terminal.
The 639,000-square-foot building occupies the full city block and underwent renovations in recent years. The transaction is dated for completion by year-end and is subject to customary closing conditions.
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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.
