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Safehold Gains More Ground in New York City

REIT Closes Latest Two Ground Lease Acquisitions for $465 Million
Safehold recently acquired a $180 million ground lease under the office property at 685 Third Avenue owned by Unizo Holdings, one of two major New York City ground leases acquired by the iStar-managed firm. (CoStar)
Safehold recently acquired a $180 million ground lease under the office property at 685 Third Avenue owned by Unizo Holdings, one of two major New York City ground leases acquired by the iStar-managed firm. (CoStar)
By Thomas Buchanan
CoStar Research
December 27, 2019 | 3:35 P.M.

In a pair of year-end deals, Safehold Inc. wrapped up two previously announced ground-lease transactions in its hometown of New York City totaling $465 million, completing what by all respects was a banner year for the specialized real estate investment trust.

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