L&L Holding Company will soon have a new landlord at its $1 billion 425 Park Avenue office development. Safehold Inc., a REIT managed by iStar and led by Jay Sugarman, has signed a contract to buy ground lease from Nuveen (formerly TIAA) of the under-construction office development for $620 million, according to a notice released yesterday. The publicly-traded company also signed a letter of intent with an unnamed sovereign wealth fund to form a joint […]
source https://therealdeal.com/2019/08/06/istar-managed-reit-signs-620m-contract-to-buy-ground-lease-at-lls-425-park-redevelopment/
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